On one hand, I like this idea since it would be putting FFVII out the way that was truly intended. I used to argue for this a while ago, but I've come to determine something.
While it would be a kind of cool idea, I feel like it would be nothing more than another purely business move by Square. People would shell out God knows how much money for the "complete" FFVII, which would only be several shiny versions of the games that most people and fans have gone out and purchased separately. Plus, you'd run into the same problem that I find with things like Crisis Core. Assuming that you start with CC, you'd play as a bunch of characters that have nothing to do with the real meat of the game, which is the original FFVII. Characters like Genesis and Angeal are never mentioned in VII, so when you're playing the VII section, they'll have absolutely no weight in the story or ultimately the outcome of the game.
It would be a cool and novel idea, but I really think that Square should focus less on milking VII, and more on working on games that have that traditional FF feel, like IV and VI did.
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