I agree that Link is loyal and noble. Depending on the game, yes, he trusts fairly easily. (Like in Twilight Princess, when he first met Midna, he started snarling and growling and trying to bite her, and continued to attempt to do that until he's gotta a bit used to her.) I'd say he's very respectful and rather shy (again, depending on the game, as almost all the Link's in all the games are different. Like in Skyward Sword, I'd say he's pretty shy, like in that one scene after he won the Wing Ceremony, Zelda got all close to his face like she's about to kiss him or something, and he just backs up like, "wut.")
I guess it all depends on the game you're playing. But in general, I'll say that all the Link's are loyal, respectful to a degree (*cough* Four Swords), and when friends with him, trusting.
He is silent, but strong. He is a loyal and will do anything to save the people he loves. He always fights for good and will stop evil at any cost. He is a hero and is respected from people all over Hyrule.
Link is a blank slate. His name is Link because he is the players link to the game. His personality is your personality, that's the way it's supposed to be. I'm not supposed to feel like Sora or Cloud is saving the day, I'm supposed to feel like I'm saving the day.
I, for the most part part, somewhat agree with your personal definition of Link's personality. I wouldn't say that he is shy, because he has a lot friends throughout his adventures. I would say that he is just different from the rest of the public, which justs makes him even more unique!
Link will be different to everyone. The way he acts, the way he smiles, the way he walks, everything is all interpreted differently by everyone.
He could smile at Zelda or Ilia, from TP, and I may say it is because he is infatuated with her, while someone else may say it is because he is simply happy or grateful to know her. This in return gives him a personality trait of Romantic or Grateful, depending on how YOU personally see it.
When Ruto comes on to Link and he backs away, I may say it is because he is scared of Ruto and doesn't like her that way, while someone else might say it's because he is so shocked and overjoyed he can't handle himself, which gives him two COMPLETELY different character traits.
Even the character train courageous may appeal to some and not to others. Perhaps someone thinks he isn't courageous, he is just a show off, or someone else thinks he only goes on these adventures because he is forced to, when in reality he is crying the whole time because he is scared..
Link's personality is all about how you look at things, and I believe it is a reflection of yourself. Consider what you think of Link's character traits. Is he loyal, courageous, smart, friendly, romantic, shy? And then look at your character traits, do you seem to share the same ones as him? I'm sure plenty of you do..