This is amazing, Koh! I'm loving everything so far, besides the constantly swapping subscreen.
How hard will it be to make cutscenes, and make different holdup item sounds (For the sword etc)?
There's such a mixed opinion around the shifting-when-necessary HUD now, I no longer know what to do with it. Keeping it stationary is easy, but then there will be things hiding behind it. I can get around that too, but still...it's become a stalemate.
No harder than how it would be in Game Maker, since that is what you open the Game Maker file with. The only difference is, when that point in time comes, all the basics would have been programmed in already, such as NPC movement, and just require modification and specification.
The engine looks really nice, everything seems to be working =)
However, I can't say I really like the graphics style, it looks a bit too dark and detailed to really fit with the 2D zelda style. That's just my honest opinion tho 
Nothing wrong with having an opinion, though I can say you're the only one who has said such so far. I've been told by some others that it looks like a blend between Seiken Densetsu (the Mana series) with Zelda, which I don't mind. SD had some pretty amazing graphics, and an excellent use of colors.
EDIT:
Besides having delayed the Power Bracelet (and Titan's Glove) for so long, I also plan to tackle Side-view (platforming) areas soon. It's just a variable switch, but it also requires a subsection of the movement engine. Of course, Text Boxes will come in soon...I can literally copy and paste my previous code I wrote up and add the comments to it, but it has more features than necessary for this, so I'll probably write it from the ground up. I did make a video of that a while back.
It'll probably just be rewritten with text commands, nameboxes and choices only.
