Square would most likely change far too many thing for a remake to be a good idea. Aside from Advent Children, all the FFVII supplemental games and movies have been overdosed with poor story lines/story telling. An HD remake would be acceptable, I suppose, but I gave up on that long ago; I don't need and/or want it.
I'd rather they just released it as a downloadable game. I would play it as is.
R.I.P. Junk Bludgeo'd For Hammer, But Always In Our Hearts. 176 Damage, Nevar Forget.
Obviously a remake, FFVII with Advent Children's quality (music too, not just graphics) would be a dream coming true for me.
They should have an original music option. Some people like the music the was it is.
Just to be clear, i don't mean "new music", i just mean the exact same music but with better quality (let's be serious, usind midis together with AC graphics is incredibly moronic,lol). At best i would be ok with introducing new music if they decide to add some extra scenarios not present in the original game (new sidequests, new fights with optional monsters......).
"Remember, you can make anything as idiot-proof as you want, they'll just build a better idiot...."