Though I don't like to admit it, Majora's Mask was easily a better game than Ocarina of Time IN IT'S OWN RIGHTS.
You get to play (technically) as three other characters, some dungeon bosses are actually fun to fight (Goht), you've got all the mask sidequests, etc...
The thing that Ocarina had, though, that Majora was "lacking" was the story line. In their own ways, though, they both succeeded. Ocarina's genre was epic while Majora's was romantic. They both fulfill the requirements. Respectively speaking, boy grows, defeats the evil antagonist, saves the princess and his land, goes off for a new adventure/ boy explores the land and fixes the relationships of an unknown world before returning to his own one. Fortunately or unfortunately, "epic" stories are better accepted by the public, especially a game like Zelda's demographic.
In my opinion, I think Nintendo made a name for themselves in the 90s by introducing compelling and immersive storylines. The characters aren't terribly interesting or dynamic, but the stories were very well developed.
As ROOOOY! was saying, though, Nintendo seems to be tumbling down Mt. Sell-Out at an exponentially increasing speed, and by the looks of it, couldn't be happier.
TP was incredibly disappointing to me. It just confirmed, in my own mind, that Nintendo is running out of ideas. Seems to me that once they found out there was money in selling to Microsoft and Sony's leftovers, they decided to abandon the people that made them popular. I'm personally getting really sick of A-lister games tiding me over until the next one, while Nintendo spends its time "developing" games like Barbie's Ranch and novelties like the Vitality sensor for kindergartners and Alzheimer's patients. All their best games are Mark and Matt's over-rated A-listers, remakes of SNES and PS2 games and various of VC console ports.
Phantom Hourglass was absolutely disgusting. From the plagarized storyline they stole from THEIR OWN GAME, to cliche/bland characters, HORRIBLY put together "puzzles", tedious mechanics like the boomering, arrows and (Godddddd) the ship upgrading and anchor breaking, to the linear storyline and predictable plot twists, it was just deplorable. Imo, that game is the epitome of Nintendo's complete abandonment of interesting story lines and characters.
Being the hypocrite that I am, it's likely (if I still have my wii) that I'll buy the new wii zelda (I smell a pot of suck coming from link's train) and maybe Other M. My hopes are not up by any means though. Looking at Nintendo's track record for the last 5 or so years, I'm certain I'll regret every penny I spent buying those games.