If It were exclusive to the PS3 a resounding yes.
But unlike remaking FF1-FFVI it will be much more difficult to remake FFVII. A remake of that game would almost like creating a AAA game from scratch. Yes you would have the story and maps and artdesign (including monsters) already done, but there are many aspects of the game that if Square just improved the graphics many new to the game would consider parts of it broken. For example the snowboarding or the chocobo racing. Both innovative at the time, but now just plain bad. Unless made as a PSP game I think this game would be a very expensive endeavor for Square.
If done right though this would be my reason to buy a PS3. Most definitely.








