No. I wouldn't mind if there were some occasional large-scale conflicts, but I don't think it's wise to apply warring kingdoms as a recurring theme throughout a Zelda game. One of the things that I think gives the series its charm is the feel that you are, in most cases, alone. Helps you get a better feel for the in-game world, and it helps you see through the eyes of the hero, in a way. I think your idea would take that away from Zelda...though if it was implemented well, and knowing Nintendo, they could pull it off, somehow, it might work. Still, I'd rather they stick with the tried-and-true, with some slight tweaks here and there...like the direction they've been taking with the series (more or less) since OoT.

Then again, I wouldn't mind straying off the beaten path every so often if the end result was a game somewhat like Majora's Mask...