This could make the Zelda series a hit. They could make Link talk or something. Ocarina of Time would be perfect. Zelda could be more beautiful, Link more handsome, and Ganondorf more villainous. If it does come, I'll definitely watch this movie. Yes, it might take time. I can't wait!
There is rich potential for a Legend of Zelda movie, as with any popular franchise waiting to be converted to another form of media. I believe that a LoZ movie can and should be made, but not now. I think the best time to begin development on such a film would be around 2015, when technology moves a bit further on to allow for some of the aspects of Legend of Zelda to be more believable, not to mention for someone to crack the riddle of how to make a successful film with a silent protagonist. Also, there would have to be a decision for what exactly the film would be; a remake of one of the games, a stand alone film with its own continuity, or a sequel to a particular game. All three options are viable and potentially very successful, if done right, which I do not think can be done now.
I love LOZ, trust me. But a movie? How are you going to make a movie when Link doesn't even talk at all in the games? Also, there are a lot of ways that you can screw up when moving a video game to the big screen, especially with such a popular franchise. It wouldn't be worth the risk of making so many people upset.