Love this game...
Gameplay: Uses the original Ocarina of Time formula, improves upon it, and nearly perfects the gameplay. One of the greatest drawbacks however, is the boating. You can spend from 5-15 minutes trying to go somewhere by boat. The first boat trip when you have the sail it's fun, but after that, it loses the novelty and begins to get tiresome and frustrating.
Graphics: The graphics are unusual for the Zelda quality, but by no means bad graphics. Wind Waker is the first Zelda which used cel-shading. It's nice, and it's pulled off very well. It's not bad though.
Sound: Always have and always will love the Zelda soundtrack. The original Zelda theme is probably my favorite video game music. Coming in a close second is Final Fantasy.
Value: This game has plenty of replay value, although not the best value. You have some extra things you can do in the game after beating the main story, but still lacks just a bit compared to most Zelda games.
Overall: Great addition to the Zelda series, and probably one of the best on the Gamecube. If you are getting a Gamecube and want to get a game of some sort, I would recommend Zelda: Twilight Princess or Resident Evil 4, or just get a Wii.