I honestly see the battles with Jenova being good endpoints,barring of course the two practically on top of each with Aerith and the Crater and the one before the battle with Sephiroth. If they really expand the first continent segment and Junon, the battle on the ship would actually be a fairly decent stopping point since its the first technical encounter with what the party believes is Sephiroth and it opens up the new continent as a good starting point for a new title. This can especially work if they bother with a world map filled with content.

Nibelheim is also a pretty strong end point. Since the first disc had the most relevant story content, I can see it being split into three parts with expansions on the narrative. Crater would be a good stopping point, but I feel nostalgia may get the better of the dev and they'll end it with Aerith instead, which narratively works better due to the ending fatigue I feel waiting until the crater would do.

I'm honestly more curious to see what gets cut or changed. The most disappointing thing about the E3 trailer is we never got a hint of the cross-dressing segment, though Kitase says its still in the game. I'm more curious to see if the actual questline is still intact or if SE may change a few things since several of the game's more questionable elements that would cause some controversy are in this sequence. The bike chase is too iconic to lost, but what about the snowboarding and submarine sections?