Yeah, FFVII's combat system was probably one of its weakest elements. I got through most of the game holding down 'Attack' with the odd Cure, Magic or Summon when needed. The boss fights were a bit more interesting, but a revamp of the battle system is much needed. Even for a Final Fantasy game, VII had some of the least strategic fights in the franchise.
Hopefully it'll be a more strategic system even with the flashier Advent Children style visuals.