I think the timing of FF7 - being the first 3D Final Fantasy game on a new console at the time, the first PlayStation - made it a big success in America, but I honestly like FFVI (aka FF3) and FFVIII (my favorite Final Fantasy) more. I think Final Fantasy 7's storyline and system were easier to grasp, which made people dismiss Final Fantasy 8 as being inferior when it came out later on, unfortunately. Final Fantasy X was pretty good, too.
That said, FFVII is definitely still worth it if you like RPGs for story and don't mind dated graphics. For me, the story and characters are more important than anything else, and FFVII is decent, if inferior (in my opinion) to the previous and next games in the series. A lot of people will have different opinions on the matter, but it's hard to go wrong for $5.99, especially considering the amount of gameplay you'll get out if if you do like it.