I think my issues with the Compilation is a lot of times it tries to retcon in things that don't mesh with the original games themes. Or shoehorn in melodrama that goes over the top. I think the Compilation should have been something that expanded on material that we didn't really see in the...
Yeah, I think Sephiroth in this version should be able to be given the ability to have his pre-evil character fleshed out. I also hope we do see more of his childhood and maybe even years in the military.
Thank goodness. Genesis is from now on non-canon. I actually think Angeal by himself could have been a good rival with Sephiroth and could have went on the run from Shinra to join the original incarnation of Avalanche.
I would say Sephiroth and Jenova are the bigger threat, but Shinra and Hojo are the reason why they became as big of a threat as they are. I know that Jenova started things 2000 years ago by messing with the Cetras, but Shinra still didn't know when to leave well enough alone.