Hm, it's interesting, but I wouldn't like a game like that. A bow, some bombs, and a hookshot (or whatever) wouldn't be very interesting, and a Zelda game isn't good without a boomerang.

I'd prefer having a good selection of items to use - but, make them more useful and less predictable. If you get a Hookshot in dungeon 3, the boss of dungeon 3 doesn't necessarily have to be weak to the Hookshot.