I love FFVII and am currently replaying it at the moment. The graphics are fine to me... it's a game from 1997! I like retro charm and actually dislike the desire to change everything for modern computers, especially when it moves away from the original aesthetic. For modern players it's worth remembering that the full screen animations were mind blowingly well done at the time. It's also worth noting that every room is individually rendered... not just generically generated from tiles. Every, single, room. When you look at the detail that's in each of them, it's kind of mind blowing.
I think the game mechanics still hold up really well. The Materia system was so clever, and gave you so many options to do crazy inventive things. The game was filled with detail, too. There's so many hidden touches. Taking the time to explore something, or search for something, nearly always resulted in some sort of reward.
FFVIII bothered me because it seemed to deliberately try and cater for the loudest comments about FFVII, namely: "Why do the characters look so cutesy...??" and "Wow, those Summon Materia animations were cool!". So we ended up with an ultra serious, ultra realistic looking, game with TONS of Summon style animation.
FFVII has a crazy sense of humour and playfulness that was missing in FFVIII for me.
FFIX returned to the fun, but it missed a lot of the nice touches of FFVII. You weren't really rewarded for exploring or attempting feats, and so for me it felt kind of empty.
I think FFV, VI and VII offered a kind of golden era (along with Chrono Trigger), and I'm NOT looking forward to the FFVII remake. It looks like it's lost all of the fun and quirkiness of the original. No thanks!