Yes but its overrated. Everyone remembers FF VII because it was the first 3-D FF game on a new and hot console that just came out. It spanned an unheard of 3 discs and had an epic storyline. At the time it would have been the best game you could ever find and got alot of hype. FF VIII was good, but a lot of people had high expectations and wanted it to be better that FF VII, which sadly it's not. Next is FF IX, my personal favorite in the series, which was released pretty close to the PS2 release and I think got overlooked a little and not as many people talk about it. FF X is also excellent and currently the only good FF on PS2. I got into FF when FF X was released and everyone was out buying it. At the time I only had about $20 and decided to try FF IX since it was cheap and see if I liked the FF series. From playing FF7-10 and the spin off FF X-2 I would rate them as this:
FF VII:10/10 the 2nd best game, only behind FF IX for storyline IX is amazing even if it lacks Sephiroth
FF VIII:9/10 not as good as the others, but come on its FF
FF IX:10/10 everything to do with the game is great and my favorite
FF X:10/10 great story and characters, Auron is the best char. out of any FF
FF X-2:7/10 not really good but you play it to see what happens after the surprise ending in FF X
Bottom line FF VII really is one of the best game you will ever play from THE best game series, but is a little over hyped from the timing in which it came out, try some others such as FF IX.
Also try the Kingdom Hearts games. The disney added in pisses you off at first but if you can get passed it there is a great storyline.