According to Game Informer Online, Nintendo of America will release a second Legend of Zelda bonus disc this holiday season. It will be included with the purchase of a new GameCube system and may also be available through other offers.
The tentative contents include ports of The Legend of Zelda (NES), Zelda II: The Adventure of Link (NES), The Legend of Zelda: Ocarina of Time (N64), and The Legend of Zelda: Majora's Mask (N64). It is currently unknown whether the Master Quest of Ocarina of Time will be included again, or whether any of the other games will be enhanced as was Ocarina on the first bonus disc. The Legend of Zelda: A Link to the Past is presumably not being offered on the disc because it is available on Game Boy Advance.
PGC can confirm that this disc will not include the GameCube version of Four Swords; it is still unclear how that game will be released, whether by itself or as part of a similar compilation disc.
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Originally posted by: TheYoungerPlumber
I know it's technically possible to emulate the SNES on the GC. That wasn't my point. My point is that Nintendo has displayed no interest in creating or adapting one for the GameCube. And why would they? Nintendo and its 3rd parties wouldn't want gamers to think they're entitled to free or discounted SNES games on their GameCube when publishers could port them to the GBA at full price! Even if LttP weren't on the GBA it still probably wouldn't have been a part of this compilation.
By similar logic one might say the Zelda N64-GC conversions suggest Nintendo will not be releasing a 3D handheld in the near future. Of course that deduction would be misguided, as Nintendo's 3D handheld (if it ever appears) probably will not have all the buttons most N64 games demand. On the other hand, the GBA doesn't have all the buttons most SNES games demand either, so I could be wrong... Heck, we've seen Donkey Kong Country ported TWICE to Nintendo handhelds (thrice if you count the somewhat original Donkey Kong Land), so anything's possible.