So it seems someone else is working on a 3D remake of Link's Awakening, 'cept its in the style of OoT or Wind Waker. You can check it out here http://balladofthewindfish.blogspot.com/
My opinion on the matter? I think its great and I can't wait to play the finished game, however, I can't recognize any areas that he has made, I don't think it invokes any sense of nostalgia at all. I don't want any one to think there is any competition between us, in my mind his project is a re-imaging, while mine is an enhanced remake, that both just happen to be based on the same great game.
Good luck Jerrel!