Good start, now follow through.
I enjoyed the pacing to the movie, no real lulls in the action so I would give you points for that.
The animation and sound effects were decent enough, but nothing spectacular. You could fine tune those two areas a bit more. I did however like the music choice.
I would suggest that you keep the general pacing to the action, and maybe add some Link vocal sounds (i.e. urgh, Ah!) when he's being physically tested. And also if you're going to stick to how the game played out, have Link use the hammer once or twice.
I also noticed that you went with Link in his green tunic, which is perfectly fine considering that's his traditional color and how people recognize him, but if I remember correctly the red tunic was required to get into that dungeon. Then again it's been forever since I played Ocarina and I can't remember whether you needed the red tunic on once you were in the dungeon.
Anywho, keep on keepin' on and good luck.