En countre'
I personally find them very fun to waste, defeating enemies that could have been defeated much easier with out them.
Editing : Deku Nuts as useless? I can't believe I read this. I used deku nuts alot, good against almost every enemy in the game. Majora's mask i used them less though, due to well less availability, and other options to easily stun thing, like Zora form/ Deku Form.
I also feel the hover boots could have had more chances to be used though, but since you get them at the end of the game, its understandable. Was good to use on ganon. I just wish they let you hover much further distances, rather then slightly out of normal jump distance, really would have made the items much more fun.
Ice arrows in OoT though, the animation looked cool, but they didn't even deal extra damage, or freeze anything.
Majora's Mask, circus leader mask, all it did was like cry, and let you redo the milk road thingy again easier, which was already easy, and didn't need to be done again, because you could still buy the cheateau romani for 200 R, doing all the stuff to get to that quest again, to be able to buy it for 100 R, not worth it compared to killing 2 Dodongos (who dropped purple rupees)
LTTP, the medallions felt so pointless, wish they were a bit more useful. Because some enemies couldn't even be hurt by like the quake, so you had to use bombos, Ether also couldn't hurt as many things, but it did freeze some, and make invisible platforms visable. The magic cape/ cayne of bryna, why have 2 items that do the same exact thing?.
TP, Epona. Lets face it, you can teleport everywhere, early on can't even ride the field because there are no bridges for no good reason. The spinner actually, needed it for like the dungeon it was in, and a few few places else where. It would have been fun if it let you ride more freely as if surfing, rather then it running out of momentum in 2 seconds.
Edit:
Shields on the gameboy games, also was the only one who used the shield? It was great to use , more so in the oracle games though then in Links awakening.
But for the oracle games, i'll say your animal mounts, were kinda pointless, there was 1 region to really use them. It was interesting though how that area would differ between who you choose. Not really choose as much as when you bought the flute or not at all, you had a choice, you just didn't know you had it. But overly not alot of point in them.