It will probably match or slightly exceed FFXIII in Japan, and do better in the west I would think because of the more action-orientated elements (not by much though). However I don't the install base will ever really be there in Japan to make PS1 or PS2 era sales a possibility.
Bare in mind that FFVIII holds the all time record for Japanese debut week sales at over 2.5million (EDIT: I think). FFXIII only managed ~1.85m LTD