Just an update, not a rewrite
I would love to see an updated version of FFVII, but not one that has been changed excessively. Some new side quests could be nice, but no new characters or major plot points. This is my all time favorite, the standard by which the others are judged, so changing it would be sacrilege. The one thing that always really bothered me that I would like to see changed is when every player gets experience even when not involved in battle. Then their special attacks didn't always level up right, etc. I like experience for actual action. Otherwise, leave it alone.