Before I played the Oracles I had formed a timeline theory, one that stated that the Link and Zelda from the Oracles were the same two from OoT. The first thing that was fired at this idea, at the co-writer of this theory on another forum, was the so-called fact that Zelda doesn't even recognize Link in the Oracles let alone know him. So from this the co-writer, who hadn't played the Oracles come to find out, came up with the idea that Zelda was brainwashed by the witches Komue and Kotake just as Nabooru was.
I hadn't played those kiddy Zelda games either so I didn't know what was what, I just assumed this other guy did and the MLT’ers that were blasting him were being honest and bringing up hard fact. So I just accepted the idea because it seemed logical.
So that Zelda wouldn't resist, the witches brainwashed her as they had done (well actually as they would have done, since the OoT future didn't exist, except for when it did to Link, Navi and Ganondorf) with Nabooru in OoT. This would ensure that she put up no fight or struggle and she would be an easy lamb to sacrifice. Ha ha ha, that is a pretty good piece of fanfic, but anyway, after having this issue brought to my full attention on the Nintendo.com boards of all places, I have concluded on my own idea.
I have recently obtained the ROMs to each of the Oracles, and despite a very frustrating start because of the codes being randomly chosen and me not making a save state to "set them in stone" so to speak, resulting in a loss of the secrets in the game linking ability, I have played Oracle of Seasons and most of Oracle of Ages with Seasons as the game that I based the Ages file off of.
I have played through the part where Link saves Zelda from the demon and up to the point after Jabu, and all I have to say is.....

What the hell were those MLT'ers talking about?

That's right, if you haven't guessed I have changed my version of the One Link Theory. Zelda was not brainwashed. She was Zelda. Untouched, unaffected, and NOT unaware. She knew everything that was going on at the time. She traveled to that land to do something about the evil. She was captured by the demon, and saved by Link.
Now since I still call this theory the “One Link Theory” I'm sure you've already guessed that I believe Zelda knew Link in the Oracles. This is what Zelda says: “My name is Zelda. You are Link right? I knew it at first glance.” She formally states her name and then identifies Link immediately saying that she knew it as soon as she saw him.
Wow, am I ever glad that I didn’t take an MLT’er’s word for it! HA! What was once thought to be a minor point against the theory now comes up to be the strongest point for the theory.
Ah, God bless the people that created emulation. I got to learn the Zelda storyline without paying a dime. Life is great.
Now keep in mind that my theory may still change slightly since I haven’t beaten Ganon just yet and I haven’t played the games in a reverse order. So I’ll update any revisions to the Oracle part of the One Link Theory in this topic.
So if anyone would like to contribute anything to this, comment on my discovery, warn me of any more MLT’er fabrications, give a heads up on what to expect or pay attention to, or just shoot the breeze about the Oracle games, feel free to post because your input is always appreciated.
L is real