I've never been a fan of the idea. I think it's something that will come into the Zelda series eventually, but I can't say I favor that decision. As Mr. Mosely pointed out, other game series have made the adjustment while still keeping it awesome, so there might be some hope for decent voice acting in Zelda games to follow. But even if the voice acting is good (and there's a good chance it wouldn't be), I think I'd prefer it to stay silent. If they made the adjustment yet allowed you to turn it off or on, I'd be fine with that. It would succeed in satisfying (hopefully) people on both sides of the spectrum.
Even though I don't care for the idea overall, I admit to having the urge to see what it would be like. If they really got some good voice acting, and left Link silent, I think I could enjoy it to some degree. There would no doubt be some facepalm moments with the voices, but its possible for them to make it work. Either way, there will always be people who either don't like the silent text and want to here some voices, and those who shun the thought with every fiber of their being, hoping to keep the tradition. But even if it was done well, I think I'd prefer Nintendo to wait another few games before they add it.