I haven't played much of it, but it is pretty fun. I've been playing DX though, and I've only played some of the original black and white one. I don't think it has aged too well though. The graphics have obviously improved but I feel like the gameplay in the Oracle games are better than Link's Awakening's gameplay. I really don't know why I feel that way. It could be my brain being weird.
It could have been shadowed by the successes of A Link to the Past, and Ocarina of Time, and handheld games aren't usually aren't praised as much as home console games.
Also, small complaint, but I hate it when it notifies me when a pot is too heavy to push when I accidently run into it. It's just annoying, but it's not that big of a deal.