Has anyone tried to digitally remaster the Twilight Princess tracks, I remember someone did this to the Final Fantasy VII soundtrack, but I don't recall who exactly.

I think you're referring to FinalFanTim's complete reworking of the FFVII soundtrack where he took MIDI files and used higher quality instrument sounds. I doubt anyone has done that with the whole Twilight Princess soundtrack (it was easy with FFVII because the PC version came with a complete and official MIDI set, where TP doesn't have anything like that), but if you don't know about Zelda Reorchestrated (http://www.zreomusic.com/), they have undertaken a similar project with all Zelda games, including 16 tracks from Twilight Princess so far.

Thanks a lot.