My thoughts are that you should share some of your thoughts here too, and I also wonder if you were the author of said fun article. Either way sounds like a nice recurring theme for thursdays so good luck getting that running in (what I assume is) your website. 
With that being said, I like the discussion idea by itself. Some of the members of the forum are familiar with both games and franchises so it could spur a quite interesting discussion or at least remembrance.
As for me, that is like trying to compare what's better between to condiments. Both games were recognised as top in their franchises during their respective times. The fact that people are very excited with Cloud is in Smash and because FFVII is being remastered speaks volumes on how much the game still matters for many people.
Ocarina of Time had its remake for the 3DS which made alright in sales. Many people, myself included, still keep it high in their personal tops.
Battle System: I rather Ocarina of Time. I like to block, move and attack freely rather than waiting for turn. It is dynamic you can engage or avoid the battles. FFVII battles find you, ready or not. This is not to say I don't enjoy RPG classic battles, I love getting the battle music, and celebrating victory and getting good spoils.
Characters: I find it hard to decide. I think both had highly recognizable characters but for both they were kind of shallow if you think about it. Both protagonists kind of lived a lie in different ways, hahah. However excluding the main four Zelda-Link Aeris-Cloud), at conventions I see more Tifas and Vincents than what I see other Ocarina of Time Sages or farm girls. This leads me to think FFVII characters had a bigger impact.
Collectables: Ocarina of Time. It never felt unfair with the missions. I liked getting the extra items like bottles, Biggoron Sword, etc. hunting the heart pieces was also useful, perhaps the skulltulla chase is the one no many like, but I enjoyed it too, reward included.
Depth: FFVII. It had a more complex story. It had a more complex inventory system. It had a more complex fight menu... hmm.. perhaps I am mistaking depth with complexity.
Graphics: FFVII bothered me that they were no constant, some cutscenes looked nice while most were too pixelated even for a pre-rendered thing. Ocarina of Time kept the same quality and it was pretty good looking for its time, I also liked how the FMV were rendered with whatever you were wearing. The textures also were pretty nice to immerse you in this land.
Zelda Lore or FF Tradition: I rather my zelda lore. That is my knee jerk reaction, but then I remember not as many games and lore were implemented back then. Still Hyrule, Triforce, Zelda, Ganon(dorf), Master Sword were element present in several of the past games. Sure, Malon's not like Cid, but Zelda does have their traditions, like having Link starting the game being a sleepy head... LA because of your naufrague, ALttP from your bed, OoT pretty much cemented the joke for many future games. Anyway I enjoy both games traditions, moggles and chocobos are pretty much to be expected for each game now.
Narrative: Both do pretty good their own thing, but while ooT narrative is like go to X area and collect X thing. FFVII was more plot driven and actually had you wanting to reach different destinations not knowing what to expect. You trained Aerith, went huge lengths to get taht super ability only she can use, gave her the best equipment and weapons she could have and... Narrative doesn't warn you. You lose it all.
Replay Value: OoT. It is shorter and easier to play. Still, after playing a game like FFVII, specially if it was your first RPG, you will probably want to start over once you realise you did so many mistakes and could have done so much better. getting that special weapon or power that appears in a very tight frame of game can be compelling, if just for the bragging rights.
RPI (Ratings Percentage Index): Not sure I get this correctly so I have no comment.
Scope: I am being dumb so I feel like depth and narrative kind of shows some scope.
TM (Transmission Medium): Discs versus cartridges. I like cartridges better because they load faster and are easier to take care of. However disks hold more. FFVII just wouldn't had existed the way we know it on the N64. Thye both made good use of their respective mediums.
Villain: Just going by the games and ignoring Legacy: Sephiroth. The backstory and his actions through the game are way more interesting. He also has a theme I still randomly sing from time to time.
