From a programming standpoint I think it would be really hard for them to use Fairy, because it could lead to a lot of glitches. But I'm right there with you, it would be awesome! Plus it would give players something to look for besides pieces of heart, since the magic meter was expandable.

I wonder how they could implement Fairy, and not have it 'break' the gameplay...

__________________
My timeline theory:
Same sword, different day.