DISCLAIMER: this reimagining of Cloud may carry all of the staples of Mary Sue fanfiction, but all of the paraphernalia listed below (although renamed and repurposed) can be found in the OG FF7. He doesn't "expend MP" when using magic, but he has to pause long enough to cast each spell. While this version can summon, I don't list summonable creatures as why would Cloud bother summoning anything weaker than Bahamut or the Knights unless he just needs something cute... and the Summons are the only aspect I did not want to think up alt-names for.

Also his Title of Perfect Soldier is just a whatever suggestion. As this envisions Cloud as the sole representative from his universe in an alternate comic continuity (i.e. DC or Marvel), Sephiroth would not be applicable as the "perfect soldier".

One more thing: this variant imagines the existence of Master Support and Master Independent Materia. The first three Master Materia come from Huge Materia of which the blue support crystal is one, so obviously Master Support should exist. Master Independent Materia does not exist in VII for only two reasons. Both reasons tie back to the fact that materia was initially modeled after the first 6 games' elemental crystals (Green=Wind, Blue=Water, Red=Fire, Yellow=Earth) and thus the four Huge Materia are FF7 equivalents of those which is why Independent Materia did not initially exist, however, as Independent Materia is now an FF7 staple, there should definitely be a Huge Materia/Master Materia variant.
Cloud Strife

Superhero Title: "The Ultimate Weapon"/"The Perfect Soldier"
Equipment: Ultima (sword)
Armor: Mythril Vambrace
Accessory: Cursed Ring
Materia: Skill (Command Master), Spell (Magic Master), Awaken (Summon Master), Enhancement (Independent Master), Synchronous (Support Master)
Abilities: Rage Limiter*, Limiter Broken*
[Ultima] Symbiosis**, Soulbinding**
[Skills*3] Gear (Item), Blood Shrapnel (HP<>MP inspired), Mime, Follow-Thru (2x/W-), Spatial Cut (Long Range/Slash-All), Analysis (Sense), Manipulate, Pierce (Throw)
[Spells*4] Regeneration (Cure), De-Code (Life), Lightning Strike (Bolt), Burning Blade (Elemental), Flamethrower (Fire), Inferno (Firaga/Flare), Cryogenesis (Ice), Hurricane (Aero), Tornado, Imprisoning Flood, Whirlpool, Tsunami, Hydro Skewer, Alchemy Blade, Shift (Quake), Crater, Petrify, Eruption, Gravity (Demiga), Sickness (Poison), Diminish (Mini), Haze (Sleep), Hypnosis (Confuse), Timewarp (Quicken/Slow/Stop), Shield (Wall/Reflect), Code (Death), Gateway (Exit), Impact (Comet), Disintegreation (Ultima), Tenebrae (Shadow Flare)
[Enhancements*5] Fission (Deathblow), Scavenge (Morph), Stealth (Steal/Pre-Emptive), Coverage (Cover), Fatal Edge (Flash), Output (var. Plus), Atlantean/Amphibian Anthem (Underwater/Frog's Song)
[Synchs*6]Mana Magnet (Added Cut), Effected Edge (Added Affect), Absorption (Elemental), Channeling (Magic Counter), Vampirism/Siphoning (HP/MP Absorb), Frenetic Cast (Final Attack), System Cast (MP Turbo)

In detail...
*Cloud's fighting style incorporates his anger while the Limiter acts to prevent his losing control. With the Limiter Broken, Cloud performs faster and more powerful attacks both physical and magic-based, however, he becomes indiscriminate of targets, cannot differentiate friend to foe, is unresponsive to pain, and his heart is strained by the sudden increased activity to the point he ultimately collapses in exhaustion.
**Ultima enhances Cloud's passive skillset so long as he does not take too much damage. Due to Soulbinding, Cloud is linked to Ultima and can summon the blade to him from great distances. However, if the blade is too far out of range, Cloud will weaken and may ultimately die.
*3 Skills
[Gear]allows Cloud the instinctual ability to effectively use any item he encounters in the field or in combat.
[Blood Shrapnel] is a non-magical attack which, due to using Cloud's own "blood", has no prerequisite casting time.
[Mime] lets Cloud perform any skill he has observe whether used by ally or enemy.
[Follow-Thru] enables a secondary use of an item or spell or skill.
[Spatial Cut], using a razor-gust of wind, will slice a distant enemy or enemies.
[Analysis] enables Cloud to calculate enemy tactics, maneuvers, power potential, and miscellaneous equipment which may otherwise go unnoticed.
[Manipulate], whether by Cloud's unconscious charisma or menace, induces others to enact Cloud's commands."O-oh..!"
[Pierce] allows Cloud's sword to impale into most any surface simply by throwing it.
*4 Spells
[Regeneration] reverses damaging phenomena, closing wounds, restoring severed limbs, and healing various other forms of traumatic injury.
[De-Code] revives unconscious, seizing, braindead, or similarly "coding" individuals.
[Lightning Strike] electrocutes a target with a powerful atmospheric burst.
[Burning Blade] imbues Cloud's sword with a powerful glowing heat.
[Flamethrower] fires a bomb of flame from Cloud's palm.
[Inferno] causes the ground surrounding Cloud to erupt in flame.
[Cryogenesis] instantly freezes an opponent, causing time loss and damage.
[Hurricane] sends an immensely powerful jet of air toward opponents.
[Tornado] whips an encircling torrent that typically sends enemies miles away.
[Imprisoning Flood] enwraps an opponent in an inescapable swell of water.
[Whirlpool] send a whorl of water washing over enemies, pushing them together.
[Tsunami] summons a massive wave from the ocean to drown all enemies.
[Hydro Skewer] impales an enemy with a hyper-pressurized jet of water.
[Alchemy Blade] temporarily alters the mineral composition of Cloud's sword.
[Shift] shakes the ground from under an opponent, stunning them.
[Crater] opens up a sinkhole to swallow an opponent.
[Petrify] encases an opponent in a shell of stone.
[Eruption] opens up a fissure in the earth from which superheated magma bursts.
[Gravity] uses an etherial force to squash opponents; slows, stuns, weakens, and damages opponent.
[Sickness] poisons an opponent causing crippling pain in their head and body.
[Diminish] causes an enemy to shrink from the fight, reducing the accuracy and effectiveness of their attacks.
[Haze] entrances an opponent into a listless stupor unable to take action.
[Hypnosis] warps the mind of an individual, causing them to take on the mannerisms of animals (i.e. frogs, pigs, etc.) or innocuous machina (i.e. a dancing robot).
[Timewarp] allows Cloud to alter the effects of time on an individual, permitting them to move faster than physically tolerable or forcing them to move slow or "stop" altogether.
[Shield] erects barrier of magical energy that reduces the effectiveness of incoming physical or magic-based attacks; when defending, magic attacks and other projectiles reflect back at attackers.
[Code] inflicts random trauma: seizures, heart attack, stroke, aneurism, or simply narcoleptic unconsciousness are all likely outcomes.
[Gateway] opens a portal to known and/or unknown locations.
[Impact] summons an object from the upper atmosphere or in space; possibly could include an airplane full of people... not recommended.
[Disintegration] deconstructs all surrounding matter with an atomic blast.
[Tenebrae] unleashes a swell of devouring darkness. Possibly anti-matter.
*5 Enhancements
[Fission] enables Cloud's sword to cleave through most any substance easily.
[Scavenge] allows Cloud to obtain useful items from every enemy he defeats personally.
[Stealth] grants Cloud the ability to slip into or past enemy defenses, allowing him to strike first or acquire items in enemy possession.
[Coverage] heightens Cloud's reaction time and speed of movement when acting to intercept an attack meant for an ally.
[Fatal Edge] raises the likelihood of Cloud's attacks killing an enemy.
[Output] enhances Cloud's speed, durability, and damage output.
[Atlantean/Amphibian Anthem] provides Cloud the ability to breathe and maneuver underwater as well as being immune to changes in water pressure.
*6 Synchs
[Mana Magnet] causes Cloud's sword to act as a magical lightning rod.
[Effected Edge] causes random harmful ailments to those struck by Cloud's sword.
[Absorption] enhances Cloud's regeneration when expose to extreme elements.
[Channeling] provides Cloud with energy to quickly counter damage with a spell.
[Vampirism/Siphoning] increases Cloud's regeneration as he deals damage.
[Frenetic Cast] allows Cloud to perform a spell while he is falling unconscious.
[System Cast] produces more effect and/or power output of spells when Cloud preps longer for each cast. Lightning Strike and Flamethrower cast four times in repetition.