I think this looks awesome, and hope it opens the door for other Gameboy Zelda remakes. Visually, I think it looks fine. It's looks a bit plasticy in some places, but I think they are going for a toy-ish, or stop-motion doll look.
And for the music they used.. I wasn't a huge fan. I am not musically inclined, but it sounded off.
It's very amateurish, slightly out of tune yet authentically Japanese. It's obvious that this was intentional too.
And this is probably why. I hope we get something a bit different tbh.
I'm excited to see how they handle item management, as that was my single biggest gripe with the original (and the oracles games too). All in all, this is great. And probably means the 3DS is dead.