Final Fantasy 7 is the first Final Fantasy on the PSX and the first FF to not go through "The Nintendo Filter (see FF II U.S.)".  This game is an instant classic and if you have never played this game or even seen it, you are missing out.  This game has it all.  A good story, which I still debate certain things about with friends, excellent battles, fun characters, and all kinds of mini games (a.k.a. the Gold Saucer).  This also was the pioneering of FMV on games.