The Discussion seems to have gone a little off topic, but that might just be my opinion.
Anyway, as the graphics are the only thing shown so far, and also seem to be the focal point of this project, I guess i will comment on them.
The Visual Quality is astounding, The modeling looks great, as do the textures, save for a few stretched looking areas on the cliff sides. My only real problem with it is the style. everything seems kind of dull and pale, the graphic style reminds me of most PS3/360 games I have played which seems a bit boring to me. Majora's mask has a much different graphic style, with much more vibrant colors.
The style of Majora's mask seems to have strayed the most on the moon, although the quality of the model is very well done, It doesn't really give me the same feeling as the N64 game's moon. I think it may be the eyes, I think they should be brighter and more vibrant, and stand out from the rest of the moon, I find yours just doesn't strike me with the same kind of fear.
Bottom line: The model quality is great, but i find the overall visual style doesn't completely cut it for me. If the hue of the colors were shifted towards maybe a dark red-orange color, it may remind me of Majora's mask quite a bit more.