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IT IS HAPPENING. YES.Square Enix has just confirmed that Final Fantasy VII's PC rerelease is real.
We reported that Square Enix had working versions of the PC ports for FF7 and FF8 on Steam back in June of 2011. Rumours resurfaced last month, a year on, when an official website for the game was accidentally leaked by a Square Enix blunder.
That website is now online.