Apparently Square-Enix said that to remake FF7 on PS3 would take too long and cost too much for it to be even remotely worthwhile. That worries me, though.

A huge company like SE can't afford to remake FF7, which is guaranteed to sell millions worldwide, and has already been made once - they don't need to worry about design, story, characters, battle system etc, just new pretty graphics.

So it seems like no company will ever be able to produce a PS3 game with FF7's scope unless they ignore next-gen graphics and make it look like a PS2 game. Which is fine by me, but it'd never fly in the current market.