Final Fantasy VII does lack challenge, however, Final Fantasy 6 is much easier.

Bosses go down in about 4 hits in Final Fantasy 6. Economizer + Gem Box and ultima or quick is the equivalent of Knights of the Round, only MUCH easier to obtain. Atma Weapon + Genji Glove + Offering + Pearl Lance (if you're lucky) can kill just about anything in one hit, which is even stronger than Knights of the Round, and much easier to obtain.

If you have Sabin in your party, almost any battle for a good portion of the game can be won in a single blitz with no penalty at all.

Kefka is the easiest Final Fantasy final boss of all time whereas Sephiroth when Cloud is level 99 can be very challenging.

I remember getting to level 30 (Floating Island Range Level) before going to Mount Koltz. And quite honestly, it didn't even take that long. I would have breezed through the rest of the game IF THE CART HADN'T RESET ON ME ARGH!!!!!!!!!!!