At one time or another, I think we've all wished for a Final Fantasy VII remake which would update the game's now dated visuals into the HD era. People have been pleading for it about as long as I can remember the idea of HD gaming starting to disseminate.
Final Fantasy XIII producer, Yoshinori Kitase, made a statement at an event celebrating the Korean launch of the most recent title in the series which may give some hopefuls pause. In Kitase's opinion, it would take ten times longer to reproduce Final Fantasy VII than the original development to get it on the level of production seen in XIII. Considering that FF VII took 3-4 years to produce, that would put it at around retirement age for a lot of us.
Exaggeration? Probably, but maybe this is just Square Enix's way of telling us to let it go. It's as if they've been profiting from the name for so long by this point that even they think it's just a little bit sad.