A short series based on the OoT manga would be wonderful, especially if the same art style were used.
However, my dream animated series for LoZ would be a 13 or 26-episode series (depending upon how well the story can be stretched out) based on Twilight Princess, for mature audiences (not mature-only stuff, but, you know, not "kiddie cartoons" something... sophisticated for the same "teen" audience the game was aimed for), and done in a *detailed* anime-style similar to that which was used in
The Twelve Kingdoms.
Now, if you're looking for something that's a remake on the old 80s/early 90s North American cartoon, look no further than this comic.
The Zelda Anime Project. I'm not entirely pleased with the style chosen for the Moblins (I like more of an animal-look for them), but for something that remakes something dorky and nostalgic for modern Zelda-fans, this is pretty nice.