Tifa's Bootleg, the program I used to Mod FF7, is sweet. Especially if you pick up the torrent. It's got all the compatible mods included [fair warning: the torrent version is 17gb] and you can switch them out. You can also pick just the mods you want to save space, though several are required for the program to run properly, they are clearly labeled and easy to find though.
I recommend the Torrent if you've got the HDD space. It includes some difficulty mods and a couple of conversion and gameplay mods besides the texture replacements as well. I'll probably end up playing through it a couple of times because of how easy it is to mod with that program.
You just select what mods you want from a series of drop down lists on a GUI interface and hit the button on the side once you've set it how you want.
The complete Mod torrent can be found here: http://forums.qhimm.com/index.php?to...6162#msg196162
The Bootleg program itself as well as a great tutorial that details everything you need to do step by step is here: http://forums.qhimm.com/index.php?topic=13212.0