With Tetsuya Nomura saying we won't see it for awhile I would like to see when do you guys think it may come out.

My Guess: In the Next 4 to 5 years from now because the complatation of FF 7 is to end at the series 20th annversivery.I suspect that they will remake it before it or maybe after its over.

Maybe he's pulling the old misdirection play to get us all off of it, and them BAM! E3 has a trailer reveal!

NextGen of course.

well that's never goning to happen.

At this moment, I equate the possibility of FFVII ever being remade with the same amount of % probability as dinosaurs walking the earth a la Jurassic Park XD

More seriously, I think we won't ever see a FFVII remake, especially if Wada comes through with his promise of having S-E development teams focusing on new and more westernized IP's.

This is pretty reasonable, but FF remakes aren't actually handled by S-E development teams

My prediction: after the V and VI remakes

Too expensive for square, imo, to remake it on a next gen console.
It wouldn't sell that much to compensate the enormous amount of money that next gen games (especially RPGs) will cost.

I think if ever, they'll remake it in portable form. Maybe PSP 2 or DS2.
And I think portables will be the home for 95% of future Rpgs.

You're right, I forgot about that particular point. 

That gives it a somewhat fair possibility of it happening, yet I won't hold my breath to it. Especially since V and VI still need their remakes done before such an event is considered by S-E, as you said.

One also has to consider the impact that a FFVII remake could have on the market nowadays, as JRPG's are nowhere as popular or trendy, in consoles at least, as they were in 1997.

I don't count, and I don't think S-E counts with it as well, with a FFVII remake to be the big JRPG booster once more as it was back then, and a HD remake of FFVII would be a huge investment, one that S-E will only consider if they have guarantees that they can gain profit from it, which in the current scenario, I just don't see it happening.

well again that's not going to happen.Square has said when they remake the game it will be a huge project using the best tech possibable.