I have to say that although the Wind Waker soundtrack is great, and features some brilliantly hidden references to lots of old Zelda music (and some not so hidden ones, like the Hyrule Castle theme), I still don't think the pieces were as good in Ocarina of Time. In my opinion Ocarina of Time still has the best soundtrack, and only lacks the Overworld Theme (of course, but Hyrule Field is good keep that, at least for Goron trail and Lake hylia and such...), and one of my favorite Zelda songs, the Dark Overworld theme from Link to the Past. But i've found that the Dragon Roost Island is the only great new song...and it's not as hummable or unforgettable as songs like Saria's Song, Gerudo Valley, or the Song of Time.
So what are your thoughts on the Wind Waker soundtracks and how it stacks up against the older ones?