Look, your lucky, I have lots of free time so I'm gonna rant on remakes.
Remakes seem to be all the rage these days, with Capcom and the Virtual Console leading the way. However, notice hot they don't upgrade for the most part. Lets take James Bond Goldeneye for the N64 for example. Its is generally agreeded to be one of the best FPS of all time. However, if you were to go back and play it now, most people would find playing with only one analoge stick to be almost immpossible. Thus, if they were to remake it now, very few people would like it. However, if they changed the game, fans of the original would cry foul because they changed one of its defining aspects. Does anyone else remember great games like Narc, Altered Beast, and Mega man that became crappy once the game was fundamentally changed?
Updating Ocarina of time with new grafics would alter its fundamental charactaristics. It would be exactly like when Speilburg edited all of the guns out of ET, or when Lucas redid star wars so that Greedo shoots first. They believed they were changing it for the better, but they just ended up screwing everything up.
Not to mention remaking
OOT would force nintendo to spend time on the same game, rather than making a new one.
OOT has been remade 3 times for the N64, twice for the GC, and once for the Wii. Just leave it at that.
And no,
TP was not a remake of
OOT in anyway shape or form. It was a compleatly diffrent game.