Man, some of you guys need to lighten up.
For what it's worth, Battle of Olympus at least looks and sounds better than Adventure of Link, and in my opinion is a bit more consistent, too. I didn't really care for the overhead part of Zelda 2 with the "mini battles". It might be derivative, but that doesn't make it a bad game.
I'd be interested if it remained in 2D -- maybe a downloadable title for psn/xbla or dsi ware. I wouldn't be interested in a 3D one, though. The example that comes to mind is Rygar. I absolutely loved the game for nes, but didn't much care for the PS2 game. It wasn't bad, but just seemed like another action game; I didn't get the Rygar "feel" from it.
Adding my 2c on the Faxanadu issue above. Xanadu and Faxanadu are very different games. With the Japanese tendency to take the first syllable of something to abbreviate it, the Fa in Faxanadu stands for Famicom. So, Faxanadu is Famicom Xanadu. It's really more of a gaiden, or side-story to the Xanadu series. Then again, not all the Dragon Slayer games were strictly related.
Ys and Dragon Slayer (Faxanadu) were all Falcom games.
-Rob
The moral is, don't **** with Uncle Tim when he's been drinking!