Well, yeah, Link ain't broke so we can't "fix" him, but adding yet another variation wouldn't hurt! Female Link wouldn't need a deep voice, 'endowed body', muscles, or anything like that yet at the same time she wouldn't need to be a complete softy like most Japanese girls are portrayed. I was thinking earlier, because of Zelda's 'personality' she is getting in SS, that maybe the female Link could be like the male Link, but have a softer side in the face of an enemy. So, for example, whereas the Hero of Time would do anything to end Ganondorf (he succeeds in his destiny), the Heroine of Time would give him a chance (which could or couldn't be fatal to her). That would provide some really nice what-if scenarios, add a tadbit more realism and boost replay value amongst all future Zelda games, assuming we get the gender choice. [I know the thing about HoT(F) wasn't realistic - Ganondorf is clearly evil and no matter who you are or what your gender is, if you are a hero(ine) then you should destroy him or at the very least seal him up]
LinkxZelda could still happen, it would just have to be friendship. That would do a number on the 'shippers' (fanboys/fangirls!), but still would provide some more whatifs and we could get official art which would then be leaked to the artists...
I'm seriously thinking about this though, it wouldn't be a terrible idea, it would just be different. I'm not saying the gameplay has to be any less serious, nor do we need Team Ninja breast physics, just a small change in the main player character's looks, that's all.