Although not a game, there is word of a sequel to the popular Final Fantasy 7, to come out in the year 2004.
Not many details are available as of yet, however it looks like it will be a CG movie, and have Sephiroth and Cloud (in some form, at least.)
According to
Gameforms, it will be called Final Fantasy VII: Advent Children.
Personally, although I'd love to see this movie, I'm iffy about bringing Sephiroth back to life. He's dead. Cloud killed him what, four times at the end of the game? Unless it's his cells fused in someone elses body. Either way, I'm greatly looking forward to hearing more news about this.