In this--the week of Link's 20th anniversary--Vintage Games ponders the idea if Zelda could become a successful MMORPG. From the article: "I think since the Zelda games are action-adventure games, that the gameplay of a Zelda MMORPG should be action-role-playing. That is, you swing your sword and do actions in real time, but you could build up experience and raise your stats over time."
One of the biggest drawbacks of this idea would be: Who wants to play as Zelda or Tinkle? You'd have 1000 Links running around. Regardless, do you think a Zelda MMORPG would work, and if so, would you play it? http://www.vintagecomputing.com/index.php/archives/72