If you pre-order Lightning Returns: Final Fantasy 13 you can dress Lightning as Cloud from Final Fantasy 7.
Is this the closest we're going to get to Final Fantasy 7 HD?
There are two pre-order offers for the game. The one we're most interested in is the pre-order bonus pack, which gets you a limited edition Steelbook. Inside that is a downloadable content token which gives you access to Cloud Strife's gear from Final Fantasy 7, including his Buster Sword and Soldier's Band. It even recreates his victory pose and fanfare.
Square Enix teased Lightning will also get some of Cloud's attacks when dressed as the FF7 star. "Specific abilities that come with the Cloud outfit and weapon will be announced at a later time," the publisher said. COME ON OMNISLASH!
The other pre-order bonus is the Lightning Samurai Set, which includes Shogun, Sohei Savior and Flower of Battle clothes. These don't appear to have anything to do with FF7.
Square Enix is often asked about the oft-rumoured Final Fantasy 7 HD, and it's stock response is that it appreciates the interest, but re-making the game in high definition would require a hundred years of development time and a billion pounds worth of resources.
Instead, please look forward to Final Fantasy 15.