1) obviously, updated graphics. they dont have to be top-tier awesomeness, but at least make them as good as an "average" looking current game
2) updated dialog (though NOT VOICED)
3) in-game extras like more bosses, side quests, mini-games, etc. (while keeping the previous ones intact)
4) full orchestral soundtrack, updated (but not completely changed) sound effects
thats it, really. since it was one of my most played and most loved games, it'd be nostalgia heaven. hopefully square will realize that the game will sell like mad because it was already good and not try to change too much.
things i absolutely DON'T want to see:
1) voices. good god no. it didn't need them before, it doesn't need them now.
2) dramatically changed battle system. a real-time or similar battle system would ruin the game for me
3) dramatically changed story, gutted parts, etc. if they're gonna remake it, they should do it right, and include everything that was in the original
4) this is most important: a PS Vita or 3DS release. while yes, it would be great to get a re-release of FF7 in any form, a handheld release would be a gutted experience, and would ultimately mean that it would never see a full console/PC release.