This game could use a retro reboot. Not an updated version persay, but a mod in the original style with an expanded music and original 8 bit animation.
Just think of a new type of Retro Game that conserves the old look but with a modern engine and expanded game play? Why are they not doing this? Duh! You'll get the old gamers back into play with new challenges and the ability to venture into those places that seems just out of reach!
What about an background adventure on the Wizard that gives you sword and just disappears? Who was he? Why did he help? More on the Zora, the monsters, the dog-pig people!
Imagine an 8 bit link Quest to India, Asia, Australia, or feudal Japan? It'd be easy to program and awesome to score.
Imagine the following 8 BIT Games:
Link's Journey to the land of Celts
Link's Ionian Quest to Athens
Link meets the Mongols and Bagdad
Link in Atlantis
Link's Wonderland Adventure into the Mushroom Kingdom
Link's Arctic Adventure