Return To Castle Wolfenstein had a pretty good Opening sequence aswell. Especially the final scene where the dust cloud looms up behind the character. Very Emotive.
FFVII is by far the better game. But FFVIII had a seriously awesome intro movie. If you're talking the first hour of the game or so (which in long RPGs like FF probably does qualify as an intro sequence) then VII, but on the movie alone, VIII dominated. Actually, come to think of it, XII had a pretty decent intro bit. And X. Hell, they're all good !! Good times. The whole lot of the Lucasarts talkies were awesome.