Personally I'd prefer if they didn't use design elements of the movie. Advent Children had the same type of redesigns that comic-book adaptations had. Desaturate colours, up the black, and add more leather. Not a huge fan, and think the original design was more interesting. The skirt of the original can go though. It's not really compatible with her moves, as it would restrict her leg-movement. Her bust size could go any way, as long as they aren't going to be weird about it. It's not like large-breasted female characters aren't well represented in video games to begin with, so if they choose to change it, it wouldn't be a huge loss for the industry.
I think the picture in the OP that turns Tifa into Korra is pretty cool too. She's your brawler character, so some muscle definition definitely wouldn't be out of place. Don't think Square would go there though. I peg them for a company that thinks female characters should be smooth and soft looking, so they can target that Otaku after-market.
Regardless of what decision Square makes, some people are going to be unhappy. Ultimately Tifa's design is pretty inconsequential in the grand scheme of the game. I think Barrett's design is more in the need of this discussion. His old one was straight up Mr T with a gun for an arm, which granted is pretty rad, and I don't want to read too deeply into why they chose to design him like that in the first place. His Advent Children redesign had a better head, but I wasn't feeling his clothes entirely. Maybe a mixture of Advent Children and the original could be the way to go, or perhaps something entirely new again. This is basically the opposite situation of Tifa, where any change they make, people are probably going to see it as an improvement over the original. Both characters have had some redesigns before though, so I think we can assume that Square may not be fully content with either of them.
