While Nintendo took legal action against those who used the decompiled Super Mario 64 code to create mods and post them online, this kind of reverse-engineering project is perfectly legal because the project recreates the original code from scratch in modern coding languages (in this case, C) without using any of the original copyrighted assets.
The Zelda Reverse Engineering Team (ZRET) has been working on the project for over 18 months, and the team now claims the venture is 91% finished. Remember the efforts to reverse-engineer Super Mario 64 a while back, which resulted in unofficial ports to systems like the Dreamcast and PS2? Well, a similar project is underway to decompile The Legend of Zelda: Ocarina of Time’s game code, and it's almost finished.
