I always thought Elite was one game that needed to be remade, but the more i think about it the more i dont think it would work so well now, it would have to be a drastic change to the base game as I think it would feel to old. Think it would work better as a xboxlive arcade game and/or a PSN game and there has been a few rumors about this going about lately. Quite a few games have tried to go down the same road as elite the X games, Darkstar one spring to mind but none have been able to have the same hold over me as Elite did, maybe i was a lot younger and Elite was totally different to anything else then.
I would like to see a FF7 remake but it wouldnt be the same as I first played it, still think the way it handed materia was great, but the whole game was fresh and new to me (first JRPG i played), a remake just wouldnt feel the same to me and i expect many others. Personally I dont think you can remake a classic game and it be as good as the original , for example no one would dare to remake the Godfather trilogy or the first three Starwars films as it just wouldnt be the same. A remake of the Starwars films with better sound, acting (lol) and effects still wouldnt be as good as the original as it would have the same effect as when it was released all those years ago. Same as FF7 im sure many people got into JRPGs on the strength of that game so its intial WOW factor would be lost in a remake.