Here's something interesting: how would Warren Spector, of Deus Ex and Epic Mickey fame, go about making a Legend of Zelda title? Spector himself explains.
Asked by NGamer what changes he'd make to Nintendo's formula if given the chance, Spector quickly gets the "oh, they'll never let me do that" talk out of the way quickly before rolling up his sleeves.
"Every game I've made, I've tried to find a different way or a better way for players to power their own experiences. I want players telling their story, not listening to mine."
"I would have to find some way to allow Link to be Link and have his personality but also allow the player to express himself, and if I couldn't do that then I couldn't do the project."
Makes you wonder how other devs would approach other famous franchises. How would, for example, Cliff Bleszinski tackle Warcraft? What would Goichi Suda do with Football Manager? Could Kaz Yamauchi be the man to drag Madden out of the doldrums? We'd certainly love to see him try. A Madden every 4-6 years is just what the franchise needs!