I kind of liked the Super Mario Bros movie. It was a kind of "realistic", apocalyptic, futuristic take on the cutesy, cartoony, game. People say it's the worst video game movie ever but they forget they had nothing to work with. Every Mario game I've ever played has had virtually no story. The plot for each game is the same. The Princess gets kidnapped by Bowser and Mario has to stomp on Koopas on his way to save her. That's it. If they were to make it today, it would have to be made by Pixar or else it just wouldn't look like Mario. But there would still be no story. Mario doesn't talk, and doesn't even gain powers like in RPGs and stuff, so there would be no character development which you need in a movie.
It's not like Zelda where you have a rich involving story. Heck Twilight Princess feels like your playing a movie. Though they could never make Zelda into a movie. One of the main things about the franchise that makes it great is how you collect all this equipment to help you in combat and solve puzzles. Combat is easy. Puzzles are a little tougher. But collecting all this gear in an hour and a half? Link would have to get a new item every 5 minutes. The only way they could do it would be to do a trilogy kind of deal like Lord of the Rings. I think something based on Ocarina of Time would work well. In movie 1, Link travels around, meets all the races, establish what the Triforce is for the newbs. Then once you think Link is about to get the Triforce and save Hyrule, Ganondorf crashes in a steals it. Movie 2, Link wakes up as an adult and re-explores the world to see how it's changed. He then has to save his old friends who have now grown up. In movie 3, he has the abilities and skills to defeat Ganon, so basicly he goes and beats him, but he does in such a way that's smart. Like using his ability to go back in time to plant a trap for Ganon, or something. I don't think Link should talk in the movie though. Navi could do all the talking for him. Think of Halo.
Ah, see? It all comes full circle. Halo is a basicly like a Zelda rip-off, just in the future with guns and stuff. Master Chief is Link. Cortana is the Navi/Midna-type character. The Prophet is like Ganon. Halo is the Triforce. It just less thinking about puzzles solving. And more about thinking about combat tactics and strategy. In a way, also puzzle solving.