throughsilver: Get the popstation.exe from 3.03 OE-A, you're using the old one. And when using something command-line based like popstation.exe or a BAT file, put the file name inside quotes or don't use spaces in it, or else Windows will think the space in the file name is separating arguments.
(geez, that's what happens with kids that have been born in the Windows era and don't even know what a command prompt and arguments are :p)
Now on topic, FF7 now has no battle swirl (which won't kill anyone, for crying out loud) but there are some fixes like the finger-cursor bug in battle, and also some stuff is more smooth (looks like more frames are rendered) like Tifa's Limit Break, or also the 'X' in the Boost feature from FF8 (that was unusable before due to the X only appearing when you can no longer press the button, hence it would go back to the start).
Now, really, I have absolutely no problem in missing a battle swirl for ONE game (FF7) if I can fit more games on my card thanks to the compression :)