After a week of release, all units shipped at launch have been sold.
Today, Nintendo of Europe had the following to say.
We are delighted to announce that:
"The Legend of Zelda: The Wind Waker has sold out across Europe after only 7
days on sale. 500,000 units of the game were shipped in to Europe for launch
and gamers have eagerly snapped up this highly acclaimed GameCube title.
Nintendo of Europe is shipping more product across Europe with stocks being
replenished by the end of the week."
Legend of Zelda: The Wind Waker was released in Europe on the 3rd of May bundled with the Ocarina of Time/Master Quest bonus disc. The game was also available packaged with the Platinum GameCube console.