This is The Cartridge Family, a Canadian band that specialises in covers of game music. In this clip, it's The Legend of Zelda series that gets special treatment, with three melodies recreated on guitar and drum.
The tunes, in order, are:
- Dungeon Theme
- Dark World Theme (The Legend of Zelda: A Link to the Past, from 2:04-mark)
- Overworld Theme (Zelda 2: The Adventure of Link, from 4:32-mark)
Man, the Dungeon Theme sounds so moody.
As for the band, it's composed of four musicians -- Jordan Young, Leon White, Dave Walsh and Mike Dinn. The Scope interviewed Young last year, asking him a number of questions about The Cartridge Family, though I found this one below quite interesting:
It must be difficult using real instruments to play music that was made with computers. Many of those songs are very complex compositions. What are some songs that have proved to be real challenges to learn? Holy smokes, yes! Computer chips don't get hand cramps. A big part of the challenge is the endurance factor. We're all pretty technical players, but these tunes are relentless. "Bloody Tears" from Castlevania has caused us to break a sweat more than once.
Now I'm getting flashbacks to failing horribly at Knights of Cydonia in Guitar Hero 3.
If you'd like to hear more, here they are bashing out various tunes from Mega Man 3: