Taken from IGN.com:

September 25, 2003 - In an odd twist, all those rumors of a Final Fantasy VII sequel from Square Enix have proven true. Is it for the PS2? Is it for the PSP? Is it for the Atari 2600?

No, no and (thinking...) definitely no.

The upcoming issue of Japan's Jump Magazine, a popular comic magazine that every now and then contains exclusive world-reaching videogame announcements, contains first information and pictures from Final Fantasy VII: Advent Children. This new product isn't a game -- it's a direct-to-DVD computer graphics movie.

As the name may imply, FFVII: Advent Children is a successor to the FFVII storyline. While few solid details have been revealed, it's known that the story takes place two years after the events of FFVII (note: we're not sure which "end" is being referred to -- the end of the events involving Cloud and his silent commrades, or the end involving the Red XIII dude). Something happens to disturb the peace that was returned at the end of FFVII. Images revealed from the DVD seem to show Cloud and Sephiroth, but that's about it.

A Japanese release is scheduled for 2004. No word yet from Square Enix regarding a possible stateside release of the product. The images included in this article's media page were scanned by some folks in Japan who have access to the issue of Jump ahead of time.

Square Enix will be unveiling more information on their upcoming products tomorrow. Stay tuned for what could be more details on this DVD.

to quote my friend... "Looks like Tetsuya Nomura used his latest style (could we say FFX-ish?) for this movie. I personally like the cartoony classic style better. Cloud looks like a Korean in a bad blonde rockstar wig. Still interesting though. Me likeeee!"

more stuff from this link

Cloud returns to Aerith's cathedral ruins in a devastated Midgard

A blur of the Hardy Daytona bike headed towards a... disturbance?

Arch rivals clashing swords

The face of Sephiroth, a familiar scene in Nomura's current art-style