would it be cool if they did a remake and updated the graphics, yeah it would but i doubt it will be done. Square (Enix sucks) will assume (sp) that a comepletly new game like FF 13 will sell way better than a remake of FF7, even if is the best ff, and they would be correct because most people will have the mentality of "been there done that" and so wont buy it where as they would buy a comepletly new game.

If it comes out I will buy it but i highly doubt it will come out and besides that video they showed was just a tech demo even though EGM said a few months back that it was going to be remade.