Definitely an instant classic
It is definitely one of the best made in the series, in my opinion, being only second to the first Zelda game in 1986. While the story is still basically the same: save Hyrule and Zelda from Ganon, the addition of time travelling and the 3-D environment puts it up another couple of notches.
Travelling from one end of Hyrule to the other also doesn't take as long as it has been in other games, and that's when you don't warp.
Each temple you visit has it's own unique theme which excited me when I first played. No two temples have the exact same room.
The soundtrack is good as well.