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No. Fortunately for us, this is just SE trying to bamboozle us once again with some fake bad news. The look on everyone's face when they open the game up on March 3rd to the full FF7 story will be priceless and a marketing feat that will go down in history. Never give up your hope in SE friends
It actually has been delayed. Yahoo is currently running a article on it and the new release date is April 10th.