It was recently announced that there will be a tweaked version of FF1, for the GBA. So far, the news includes bonus dungeons, a tentative release date in Japan of 29/07 of this year, and the fact that you can apparently fight Gilgamesh, Shinryuu, Ultros, Chupon, and the Four Fiends.
The Official Website for this release, though all in Japanese, provides some interesting screens to look at. Use the convenient gloved-hand menu navigator to load pictures.
(FF2 is also mentioned, but unfortunately we do not have further information on it at this time.)
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We hope to get more information on this from Phoenix, our newsie currently staying in Japan. And the character images are very cute, but that's to be expected from a GBA, for some reason.