Well since it's so much later, I have seen it (a looooong time ago now) and it wasn't great as a stand-alone thing. But as an aside to FF7 and the new onslaught of games that are coming from it, it was definitely worth watching. Sephiroth vs. Cloud was cool, if an under-explored aspect of the movie.
What's the point of a hero with no one to save?
Le sigh