I'm not excited until I hear of what they might do to the game to make it better. Let's not delude ourselves here: The presentation and gameplay of FF7 are fucking ancient now, and adding a few cutscenes and prettier graphics won't do much to hide that.
I hope Square Enix takes this chance to make the world of VII a little more detailed and expansive, be it through additional content, gameplay features or backstory. If they squander the moment by just giving it a visual facelift, I will be sorely disappointed.
But hey, I could be wrong about this. Look at Mario.