Well no, there was the fan created 1.02 patch (made by Qhimm (the person, not the forums themselves)) which fixed some bugs, including the Chocobo races which were nigh on unplayable in the original version. There was also a patch known as "Animevamps 1.04 patch" which was the 1.02 patch with a trojan attached to it. The guy literally stole the real patch code and messed around with it to absolutely no effect. This whole thing was actually hilarious, because Eidos "released" the 1.02 patch that Qhimm created by shitting out the link to it on the VII PC page and gave him absolutely no credit while passing it off as if they created it.
Various manual modifications used to be required to get the game to run on modern PC's, but a patch that does this has never been made. Since 2010 everyone's been using Aali's graphics driver, which is pretty much the only thing guaranteed to get the thing running and allows people to set proper options such as resolution. Before that there was a patch called SaINt's high resolution patch which made it even harder to get the game running.
There was of course the "Ultima Edition" which was a torrent that basically worked right out of the box. But it came with AnimeVamp's patch and was scarily broken in places.