In a recent interview with TechDigest, Kitase, the director of FFVII and the producer of FFXIII said:
“If it were possible that we had all the right facilities and the right environment to be able to make and prepare a Final Fantasy VII remake within a year, we'd very much like a go at it! But even Final Fantasy XIII has taken over three and a half years to create. If we were to recreate Final Fantasy VII with the same level of graphical detail as you see in Final Fantasy XIII, we'd imagine that that would take as much as three or four times longer than the three and a half years it has taken to put this Final Fantasy together! So it's looking pretty unrealistic! But if any such situation came about by any remote chance, then yes, we'd do it!”
So it seems there is a very tiny chance that at some point in the future, if someone ponies up some dough, we might just see a remake… but I wouldn’t hold my breath…. Oh well, I guess I’ll spend my energy looking forward to the newest installment in the FF series.