I own the PSOne and the PSN version, so I'm think I'll just skip this one. Besides, if you play the game without the nostalgia-goggles, you'll notice it hasn't aged well. The pre-rendered CG-backgrounds are a pixelated nightmare, the character models are horrendous and don't seem to have any actual texturing. Of course, that's just the visuals and we all know the visuals are far from the most important aspect of a game - except when the graphics are so bad I need to activate the markers to see where I can and can't go. Sure, polygon models and CG backdrops were mind-blowing at the time of its release, but man, the years haven't been kind.
Then there's the plot. Just like its (partially cyberpunk) setting, it's rather original and interesting - but at the same time inconsistent, bizarre and illogical. And disturbing, everyone seems to remember the "devastating" Sephiroth/Aeris moment, but nobody seems to remember Hojo trying to force a mating process between Aeris and Red XIII in a sick attempt to make sure both races would survive. Bestiality! You know, for the kids!
The only thing that FF VII did right and still holds up today, is the materia system. While the combat itself hasn't aged well either, the whole "create your own job"-concept was something that hadn't been done before and (truth be told) they pulled it of marvelously.