I think most of the FFVII community wants to see the exact same game, only with PS3 graphics. Not sure if that means removal of the SD character models in favor of more realistic ones or not. I'm thinking the majority wants to see the latter more than the former though.
Personally, I'd couldn't care less about a remake of FFVII. Not sure if I'd buy it or not if they did release something along those lines. Don't get me wrong, I love FFVII, but I just don't care if they ever remake it with models that look like their Advent Children counterparts.