I like it! Not too much to comment on, you used everything very nicely. Well done! I noticed a lot of people are using the mountains as brown, instead of gray though. Not a problem, just something I noticed!
Is this inspired by Zelda 1?
I think so.
At least, I can say yes for me.
Because, most people who've played the game originally, either on the NES console many years ago (me), or on NES emulators later, or even in ZC for the first time, are probably used to the deep brownish-red mountains after so much time. So, for those of us with that ingrained into our Zelda-1-mode mindsets, it's natural to gravitate toward highly saturated mountain tiles. I think if your tiles were presented as a totally different game to people not familiar with Z1, most would conclude that the gray tiles are best suited for rocks/mountains, and gravitate toward those instead.
In my particular case, I'm growing obsessed with the Rose ScootSheik palette because its shades and saturation remind me of one of those rare golden sunsets, where everything in sight glows yellow, and it looks so absurdly dreamy. The green trees, blue water, brown wood, brick walls, cement sidewalks, metal buildings - and yes, the rocks and dirt - all look like some color-filtered Hollywood paradise scene. And I love it 
(Also, that BSMC Tileset Beta link in your sig seems to be taking me to something I don't have permission to view.)
