What do you guys think this means? Will there be extra content like more story, maybe more players choices to influence the story?  How might they upgrade it?   

http://www.ign.com/articles/2015/06/19/e3-2015-final-fantasy-7-is-a-remake-not-a-remaster?abthid=558362a9b54f649673000008

What are your suggestions?

It will be like FF XIII with a FF VII paintjob.

j/k

It will try to be a more cinematic story telling much like FF13 is.

Now if you were to ask me would they change the gameplay? Well they SHOULDNT because it would anger a lot of people, but I can see them upgrading it or tweaking it.

obviously

i think they will add characters and story and lenghten it

they will also provide an option just to play FINAL FNATASY 7 alone or with the extended parts

Judging by Nomuras statements they might change the battle system. One of the most prominent things he said is how he thinks it makes no sense for it to just have updated visuals and that all those georgeous character models just standing in a line, waiting for their turn doesn't make much sense.
That sounds to me like he wants to modify the battlesystem, as much as that might upset fans.
Maybe they'll go for some sort of hybrid akin to dragon age, where you can plan out your partys actions and then act in real time.

They are completely redoing the game. Its sounds like the characters, plot, and locations will make a return. The gameplay mechanics will be different in some way, and if they are charging the battle system you can be almost sure they will adjust the leveling system.

I can see them using a sphere grid system for leveling, but I think Materia will still be the main way to upgrade spells, skills, and summons. I always thought there was a lot more they could have done with Materia so hopefully they can expand on it.

I hoping for open world...

If they change the Materia system they will lose the soul of the game.

Remaster is what the FF7 release in October is, a remake is actually remaking it but a remake is not re-imagining things. A remake should just be updating the graphics etc, the story, battle system characters do not need to be re-imaged, just remade.

You know, the more I read the more I worry. It's my favourite game of all time, along side Crash 2, and at this rate, I'm not going to buy it because it won't be a new version of my favourite game of all time. It'll be something else staring some characters I know in it, no different to Dirge of Cerberus or KH.

You don't even know how the game will turn out to be. Not to mention Nomura already said changes won't be that drastic.