As a long time Zelda fan
I must say that was pretty great.
I remember seeing the thread in the Flash forums for a long time, I wanted to join, but I occasionally posted in the thread to give pointers or link to Zelda sound effects. I probably would have joined if I wasn't busy with whatever, but either way this collab was pretty great.
Each part had its moments, so I can't really pick a favorite part. I was kinda hoping for more Ocarina of Time or Majora's Mask themed parts (my two favorite ones) but I'll live. The animation was pretty nice for the most part, and even the parts that weren't animated as good still made up for it by being funny.
Besides the main movie, I also enjoyed everything else. The credits scene was pretty cool. I liked the bonus scenes, the hearts weren't too hard to find, and the parts were pretty funny too. I also really liked the author bio page. It was probably the best author thing that I have ever seen in a flash movie. Truly a great way of making credits fun.
I also got a laugh at the little statues that tell you the time, I love those things.
Great collab, worth the wait, thumbs up, etc.