What is the difference between final fantasy 7 ultima edition and the original?

Hello Guys,

My friend has FF7 UE or ultima edition whatever on his computer and he let me start playing it today. Besides "I guess" some graphics are better? and an obvious difference in the music of the game, what else is different that the original release from the PlayStation 1? So far all I've really noticed is the music and the sounds are different. Are there any other differences between the 2 of them? Like game play, story line, different items, anything?

Thanks in advance
Alvin Bret