I have too many projects on my hand as it is but this thought came to me and I said to myself; "damn. I want someone to make it!" The Legend of Zelda in ZFGC style would be interesting and if done correctly...awesome. It would be the first to do it too. I am pretty sure Z1 in many other styles has been done but not ZFGC Style!
If anyone will take on this idea I would gladly help in any missing sprites like the eye ball statues and dragon statues that stare at you as you walk into dungeons. I think instead of caves you could make houses. Maybe in the starting screen of the game not only would the old man have a house but maybe where Link starts...is now inside HIS house. If you would really like there could not be that wall blocking you from going south in the first screen...this way you could add a town below the first screen.
And the potion shop would be closed like usual until you give the old woman the note from the old man. This is my way of doing that...
YOUNG woman owns a CHU JELLY shop in her HOUSE. It is closed because she has no chu jelly. She says that her fiance (not old man) went out to get chu jelly for her. She also says she is worried because he has been gone a while. She asks Link to check on him. When you find him you will see that he has been attacked by Moblins and that he is wounded. Kill the moblins attacking him and he will get up and ask you to tell her that he will be back soon and that he will bring chu jelly. Go and tell her. Then next time you go into the shop you will see him walk into the shop and the two of them will then sell you chu jelly, red and blue. red heals one heart. blue heals two.
Just my ideas...