Incredibly excited by this. missing the clay look of the original, but I'll adapt. Just hope the humour is properly kept. It'll be interesting to see how much of those Woolsey translations wind up changing things, if at all.
Also, just to throw it out there, here's a how i categorize Re-releasing games, from least amount of work to most amount done:
0) emulated (literally the original, just has a translation/emulator level to make it work. maybe some mods and tweaks)
1) port (straight up port with original game coding, just changes to work natively on a different platform)
2) Updated port (from old console to new console with original game coding + bug fixes and Quality of life fixes)
3) Remaster (from old console to new console with original game coding, but with varying degrees of shiny new/upgraded graphics and gameplay+code fixes/tweaks/QoL)
4) Remake (completely new code, but replicates the original playing experience with QoL tweaks and usually the same graphical style as a base)
5) Re...do? re-imagining? re-take? something. (basically, going back and having a re-do. New code, new story, new gameplay. Tries to keep the "heart" of the original, but is a completely different game to varying degrees)
ff7R is very obviously #5. This is definitely #4, a proper remake, which means full-priced most likely. very excited about the whole thing being remade, though.
Chrono Cross is #0 and I'm still salty about it.