Final Fantasy 7 all the way!
In comparison to modern games, it obviously doesn't have near as good animation, the sound isn't as good. These aren't the only things that make a good game though. For me, the story matters, and the story for this game was exceptional. Most games don't make you feel sad if a character dies; you are usually just 'Oh, he's dead. Whatever.' But when Aeris dies (sorry for those who haven't played) I actually felt sad. It was not just a whatever moment. I can't say the same for others, but that's me.
And then there is the comic relief. Most games have some stupid joke breaking up the monotony. Final Fantasy 7 has good characters who each (well for the most part) have some funny moments. Especially Barrett.
There is so much more to say about the game, but lets just say for now that it is one of the best RPG games out there, and if you are into those you need to play it.