Thanks for the insight. I'll try to address everything I can.
In regards to the setting and the potential challenges there, I think you'll be satisfied. I can say with all honesty that I am sure every second of the game will feel like Zelda, barring maybe the first 10 minutes of setting shock.
Rupees remain absolutely the same in function, the change being different types of "rupee cards" rather than different sizes of wallets. As for the HUD being too large, I really can't imagine a situation where I would need that area of the screen; however, if a problem comes up, I could simply change the HUD.
The buttons are not necessarily finalized, and I'm fairly certain a second item button will be added at some point anyway. As for context-sensitive actions, I'm having trouble thinking of a situation where you would need two buttons at once. It is probably worth mentioning that some other functions are simply not pictured, in the same way that the Pegasus Boots in LttP were just understood to always be the A button.
I think that covers it. Again, thanks for the input.