A rerelease is more likely. Maybe some new packaging. A new dungeon. Like the GBA FF's.
But whoever said it before is right. It would cost too much money. It would serve a niche of players who still enjoy it, and wouldn't be likely to bring new fans in. For many of those who bought FF7, how many still play video games, how many are buying the PS3, how many will have it when this remake would be released, how many are opposed to playing through a story they already know. And how many people won't play it just because of the idiots who rave about it...
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I do it for the rare drops
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