I like FFVII. I liked Advent Children, but purely as an action movie. I hate the story though because although the story warranted a sequel, it was a big mess of crap in the end. I also hate the rest of the compilation of FFVII, but that's because I hate unnecessary spin offs, especially when the games themselves are complete crap. I doubt I'd have a problem with FFXII: RW since the story was left pretty open in some ways, and it seems to actually be a good game, but I don't own a DS.
I do have a problem with this game though since FFIV is the last game in the series that really needed a sequel, and since the game itself likely won't live up to the original at all. I have no problem with the idea of making sequels if they want, but they need to stop half-assing most of them, and make sure they originals actually warrant them.
All that said, although I don't like them making an FFIV sequel, I won't begrudge Square for making it, or anyone else for wanting to play it. I vote for what I like and don't like with my money, and if it ever sees a release in some form that North Americans can play, I'll show my support for it by not buying it.