Eh, I'm not a fan of the idea of live action Zelda, if only because, with the exception of Twilight Princess, the series seems for the most part too stylized and colourful to really be captured in live action without looking too silly.
I mean, just look at that image of Groose from earlier in the thread. Groose is amazing, but can you imagine trying to make someone look like that in live action? I just can't picture it. Not to mention, considering you see more monsters than humans in Zelda, if it was live action I imagine you'd have to either cut most of the critters out, or they'd have to have some pretty sub-par special effects to portray them all and stay on budget.
Honestly, the only Nintendo franchise I've ever been able to properly envision in live action is Metroid, as it always had the more realistic looking style to begin with.