I agree, that fan movie is way too generic. Also, even though it's low budget, couldn't they have done Link better? I mean, come on...

But anyway, I remember someone posting an idea here about a Zelda movie that would consist of a child wandering into a forest, and his imagination blooms things into existence (the Zelda world). This was a great idea, as it actually is a lot like how Shiggy came up with Zelda anyway. Miyamoto created Zelda from his memories of exploring caves and forests as a child. All in all, this could be great for a Zelda movie.

A few ideas I had for this:

-At the end, it could have the child being stuck in this realm of his own imagination. That, or it could all just disappear instantly as he hears his mother calling for him.

-Seeing as this is sort of like a daydream, perhaps the plot could be based off of LA, with mix ins of Majora's Mask for an otherworldly effect. Using these two would be the best way to keep the movie from turning into another LotR carbon copy, as they IMO the most original Zelda games to date.

I'll probably post more ideas later, but I need to check some things real quick.