Fan Game: Ocarina of Time 2D
This game has probably received the most publicity than any other fan-created Zelda game in the Zelda community, being featured in magazines and mentioned in numerous articles.
Daniel Barras, a veteran gamer, has decided to take Ocarina of Time back in time, completely cloning it using A Link to the Past sprites.
Currently, the site can be found at http://www.oot2d.com, where you can download the latest betas (although the one up to the Great Deku Tree has been delayed quite some time), screen shots, and the other media involving the game.