I'm still in favor of the order they were released. Having not actually played the game, my comments can be easily faulted, but I still put ALttP AFTER LoZ and AoL.
If you've never played the game then you should probably get some info on it before you start theorizing its placement on the timeline...
Both the Japanese manual and the American manual HIGHLY suggest that it is a prequel to LoZ/AoL.
According to Erimgard, the Japanese manual says "This time the stage is set a long time before the time when Link accomplished a feat..."
That obviously means that the game is set long before the time that Link accomplished something great. There were only two, directly connected games created before ALTTP which means that ALTTP must be talking about the Link from LoZ/AoL which means ALTTP would come before LoZ/AoL.
Also, the American manual calls Link and Zelda in ALTTP the predecessors of a previous Link and Zelda. Once again, there were only 2 games that are directly connected that were made before ALTTP which means that Link and Zelda could only be predecessors for Link and Zelda from LoZ/AoL which would, once again, put ALTTP before LoZ/AoL.
Go play the game.