I used to laugh when people suggested the Northern Crater, but now that they have announced that there are only two parts left....and seeing how the teaser focused so much on fact and fiction/Cloud's memory issue, it really does feel like that would be the best stopping place. The problem being that there is a LOT to cover in P2 if that is the case, unless they are moving certain things to P3. Ending with Cloud in that lost, hopeless state, with the truth of his identity revealed (which in turn is the perfect chance for Zack to step in) is too fitting.
I do wish we could ban the constant references to ESB, it is already feeling overwhelming now, and will only increase I'm sure XD But I get why it's used, and it makes sense. I wouldn't be surprised at all if Kitase had it in mind when he was talking about sequels.