It's really gameplay vs story. Ott heavy on game play where ff7 can be like reading a book. nothing really revolutionary about its game play some beautiful backgrounds and a deep storyline. Ott has some seriously revolutionary 3d interactions.
I didn't love 7's story. There's a bunch of fluff with every side-character having their own mini-story. The amnesia plot line in particular was annoying.
I generally like the whole lifestream stuff. But I think the whole story is pretty mid compared to the storylines of other Final Fantasy games.
Agreed, as a game, as in fun, ff7 wasn't very good. That music, those visual designs (the pre rendered stuff), and the story (though it suffered from bad localization) were compelling. But random encounters, fights filled with mostly waiting to be able to do things, the best attacks doing too much spectacle which was nice the first time, but pretty boring on repetition... The materia management became frustrating as you got more party members and no way to arrange or search, even with in game dialog mentioning how it was a pain...
Chrono Cross actually had significantly better game design, with enemies on screen and no standing around waiting for some characters turn to come up before anything would happen. Wish ff7 had clipped the "no action allowed by either side" time and that would have helped immensely. Then it just becomes a matter of if the player prefers real time adventure to menu driven play.