Square Enix producer Yoshinori Kitase has said the PS3 and Vita re-releases of Final Fantasy X aren’t just HD re-masters of the original PS2 release, but rather a "remake". In an interview with M! Games Via Playstation Lifestyle Kitase said that the project which was revealed at TGS last September was in the early stages of development.
Kitase was a producer for the original FFX, so rest assured that the games magic will be preserved for the remake. I'm actually both happy and astounded that they are doing this, as it's the first Final Fantasy game I really fell in love with. I know most people would love a Final Fantasy VII remake, but perhaps this is one further step in that direction (assuming it has the chance of ever happening).
Kitase's upcoming project Final Fantasy XIII-2 releases at the end of this month (February 3rd for us) on the Xbox 360 and PS3. Look out for more coverage on the next Turn Based podcast.
Now lets hope for some online Blitz Ball.