If you're new to this forum, or even if you're not, I strongly recommend that you read this - provided you've finished playing FFVIII. Wouldn't want to spoil anything, now would we?

Here are a few of the biggest, most often recited question about FFVIII, and their answers.

Question 1:
Who is Squall's mother?

Answer:
Raine, sometimes called Raine Leonhart but known as Raine Loire after her marriage to Laguna. She is Squall's mother. Not anyone else.

Question 2:
Who is Squall's father?

Answer:
Laguna Loire. This is very strongly hinted at and evidenced in the game. The factual support for this belief is overwhelming.
Quick edit: The manual says Laguna is 27 and Squall is 17. Laguna is 27 IN THE FLASHBACKS, not when you meet him later in the game. ~Krang

Question 3:
If Laguna is Squall's father, then doesn't that mean that he and Rinoa are siblings?

Answer:
No. Rinoa's parents are Julia Heartilly and General Caraway. Not Julia and Laguna. The numbers simply don't add up if you try to make it so.
Besides, that'd just be sick...

Question 4:
Are Rinoa and Ultimecia the same person?

Answer:
There is no clear answer. There's evidence that suggests they are, and clues that they're not. It's a widely argued issue, but one that's nearly impossible to resolve satisfactorily.

This is widely called the 'R=U' debate.
Thanks to twobitmage for recommending that a definition of 'R=U' be included in this FAQ.

New information:
The FFVIII Ultimania guidebook is an official publication containing detailed background information on Final Fantasy VIII. According to this guide, the sorceresses in FFVIII have normal human lifespans. As Ultimecia lives "many generations in the future", it is not possible highly unlikely (since this is a game that involves magic, after all) that she and Rinoa are the same individual.
So much for that theory
Heartfelt thanks to Squall of SeeD for posting information from the Ultimania guide and putting an end to the most annoying debate in Final Fantasy history.

Question 5:
Is it true that FFVIII is going to be remade for the PS2?

Answer:
Any plans for a PS2 remake have been put on hold indefinitely. That's usually a pretty good sign that nothing's going to happen, so don't get your hopes up...
Cheers to ShivaBlizzard8 for suggesting this FAQ.

Question 6:
Is Raine the mother of Ellone?

Answer:
No. Raine adopted Ellone after Elle's parents were killed by Esthar soldiers.
TheAbominatrix threatened me with whips and chains until I added this FAQ.

Question 7:
So... what about those gunblades?

Answer:
Like the R=U theory, this has been a long-running debate among diehard fans. Some people insist that gunblades fire bullets, while others maintain that there's no barrel, so no projectile actually leaves the weapon.
Mercifully, this debate can now be laid to rest. The FFVIII Ultimania discusses this issue. Gunblades do not actually fire bullets. The high-powered rounds explode, and the recoil from this explosion sends a surge through the blade. The added force makes the blow more powerful than an unaided sword strike. No bullet is fired, but the blade itself acts somewhat like a bullet, as it is propelled into the target with great force.
Thanks to Squall of SeeD for obtaining this info, and additional thanks to DarkAngel (not a member of this forum) for translating the relevant material from the FFVIII Ultimania.

Thanks for your attention.

If you know of anything else that REALLY needs to be on this list, please PM me and I'll see what I can do.