I came across this while watching "The making of Advent Children" on disk 2 of the original DVD release.
Nojima, Nomura, Kitase and Sakaguchi see FF7 sort of as Pandora's box. It was the first 3-D Final Fantasy they'd ever made, and because of the success of it they'd hate to ruin it by touching it again. They go on to explain that they were reluctant to do Advent Children also, but Nomura did such an amazing script that it just "worked" (see Advent children complete in this case, because it makes more sense)
Those of you still begging for an FF7 ramake, know that the original heads of the FF7 project don't want to do something they'll regret to FF7 and that's why nothing has been done so far. It's more than business to these guys, it's actually special to all of them.
Now, it's probably inevitable that at SOME POINT (maybe after all the FF7 heads have left square) that someone will say "OMG I LOVED FF7 LET'S RAMAEK THAT SHIZZZZ!!!" I have a feeling (pure speculation at this point) that the changes will be so radical that it will do exactly what the original FF7 heads didn't want to do.
Ideally, FF7 would have updated graphics, maybe voices, and if they were feeling really good about it maybe a real-time combat system, but that's simply wishful thinking. Ever since AC, FF7 has been super popular in Japan and there will be no hesitation to attempt to cash in on this, watering down the characters, making Cloud the emo ***** that he was in AC and so on.
I'm actually secretly praying for the ideal remake that we all want, I just don't think it'll either A) happen in our time or B) happen even slightly the way we want it to.
That doesn't stop me from giving up hope though...