Yoshinori Kitase has said that Final Fantasy VII could be remade if it were feasible to do so within a year's time.
Speaking to TechDigest, Kitase said that with today's technology it is possible to remake the game, but being able to do it within a year would not be possible.
"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," he told the site (via Kotaku).
"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".
Looks like it's just the PSN version for the time being then, kiddos, despite Kitase being really interested in seeing how it would turn out. Even if he does think it would be hard to do in this day and age of HD.
Don't worry though. FFXIII is out in a few scant weeks, and there's always the chance that our hero, Cloud, could turn up in other games.