I just gave this a try. Overall I think it is great. Very nice work!
I am very impressed with the new overworld tiles. I was disappointed that Link no longer has an ascending/descending animation when entering/exiting cave entrances, but from reading the previous thread this has been discussed and it doesn't seem like much can be done.
My main issue with the new graphics is that Link looks smaller than he is. What I mean is that it feels like his hitbox is too big for his sprite. I keep getting hurt by running into enemies when it feels like I should have a few more pixels of space before I come into contact with them. I think the original Link sprite took up more space within his tile, and thus gave an impression that he was a little more squat and bulky, and I could tell when I was close to touching an enemy, but here I feel like I should have another step or two before I take damage, and it keeps surprising me.
I think a lot of the monster sprites could be better, as well. I'm not crazy about the way the moblins and goriyas look. It's hit and miss -- so far it seems like the creepy-crawly enemies are good, but I don't care for most of the humanoids. Octorocks, leevers, tektites, kees = good to great; Link, moblin, goriya, stalfos = needs work.
It's hard to remember, but doesn't the underworld map have a way to indicate to the player which rooms they have physically visited? It seems that this is missing from the HD remake.
I like [select] to cycle my B-item, and the increase of bombs capacity.
If you intend to keep working on this, it will be interesting to see how much more you can do with it.
Thank you for making it!