For me, Wind Waker is one of the few games of the last decade to really remind me of the powers of great games. It's certainly filled with that undeniable sense of awe and exploration that makes Zelda so wonderful. It's a world of mysteries, and there's no pressure to hurry about anything. You can spend hours just charting the ocean, if you want, or you can embark on one of the myriad subquests or actually send the storyline (a story more vast and fulfilling than anything in any past Zelda, by far) on it's merry and extremely clever way.
Sailing in Wind Waker is, for me, like the first time I lifted off the ground in Super Mario 3 or Mario 64, and up there with other great gaming moments like seeing the opening cinematic of Final Fantasy 6 or playing Gunstar Heroes for the first time. It's not just an extension of Ocarina of Time, it's a full-bodied game that perfects Ocarina's framework and then takes a stark departure from that game's agenda.
People decry Nintendo's reliance on sequels, but when they make sequels this NEW and satisfying and flat-out fun, they prove that the best sequels aren't sequels at all, but unique and singular accomplishments with the added bonus of nostalgia and familiarity. And with Wind Waker, Nintendo also proves, with a hugely popular entertainment, that there's truly more truth in fiction than fact, and when you begin to mistake the cartoon ocean for a real one, you'll know exactly what I'm talking about.