I would really like to see one. I know it would receive a lot of crap from picky fans but i think it would be really cool to see all our favorite characters in a big screen............now that I think about it never mind. no I wouldn't like to see a legend of zelda movie because right now only people who have played the games are fans. I think if it becomes a movie it will become a hipster thing like most superheroes have become and I would like to keep the series to true fans.
I could support a movie on two conditions. 1. It would absolutely have to be animated (preferably in a Wind Waker style), because I think it would just be ridiculous to have it in live action. 2. Miyamoto and/or Aonuma must be heavily involved in various aspects of production. If it were done well, I would very much like to see a Zelda movie.
My knee-jerk reaction is "Holy crap, a movie, yesss!" but then when I stop to think about it, the more I think it's not a super good idea. Movies are never as good as the things they're based off of and I don't think any film director, no matter how amazing, could really do justice.
Then there would be the voice controversy. And do we film this in Japanese or English? Should the actors be Japanese or Western? I think they would also get in to too much of a habit of CGing everything because there's so much fantasy in Zelda that it would be difficult to stay away from it and it would end up looking tacky.
I'm not saying that it's not a good idea, I just don't think it's a good idea right now when everyone and their mother is making a movie based off of something else. People are losing the ability to come up with original ideas and the based-off-of ideas they're coming up with have been half-assed recently. I love Zelda too much to watch it go the way of the animated series!