1.It depends.But seeing how the story concludes,it is almost impossible to see the sequel or prequel for Final Fantasy VIII.It would be better if they just remake FFVIII with voice actors,include MP System,and etc.Final Fantasy IX remake is good too.
2.Probably Cloud.Seeing his First Tsurugi is formed by 6 swords which are different.His attitude is a bit cooler to me.And he has a lot of skills and strength to wield that heavy Buster Sword,not to mention the 6 swords to form First Tsurugi.
3.Rapier (Genesis Rhapsodos's signature weapon.)