No thanks,
Ever since the game came out it had so many rereleases and a remake. It drawed so much attention to it that it wouldn't be clever to go for a sequal for it! A Link to the Past on the other hand didn't had that much attention and because of that alttp 2 feels like a game that needed to be made. No other Zelda was like alttp. Every Zelda after OoT was just like it and thats what could bring the franchise to a halt!

Nintendo need to introduce a newer and more original Zelda to the masses. They did that kinda with Skyward Sword but not really.

In a nutshell:

The Zelda franchise needs a rest from Ocarina of Time!

They got that idea from sideway new york on PSN lol

Twilight HD would be cool simply because I feel like the game was held back by wii.  This is especially true with SS as I would have rated it a point or 2 higher if it only didn't force motion controls for sword combat and flight.  They're good for aiming but everything else they lag behind way too much.

Yeah, I see a lot of criticism directed at the whole "drawing mode." Almost every Zelda game has a hook, some plot device or mechanic that makes the game unique and interesting. This is just the latest one, and a very promising one at that.

Majora's Mask is a direct sequel.
Twilight Princess is "OoT 2" per se. There is no need for more OoT.

It won't be called OoT 2 as it is known as Majora's Mask. But the third entry in the Hero of Time saga could be.

Wow. I guess the word "gimmick" has lost all meaning at this point. 

EDIT: In response to the OP, I don't want an OOT sequel. The game is perfect as it is, and, besides it already kind of has a sequel in Majora's Mask. What I want is for Zelda U to be unique, and make some significant adjustments to the Zelda formula. I don't see that happening if they go for a direct sequel.

How do we know that Link's ability to walk on walls is a gimmick???
For all we know it's just another item he gets in a dungeon...
It may not have nearly as much impact on gameplay as motion controls had in SS or stylus controls had in PH...
So many people complain that Link always gets the same items, and when he finally gets something not seen in a previous Zelda it's a gimmick...

So don't you want a LttP sequel either? That game is pretty much perfect as it is as well.

Majora's Mask is OoT2. Just because it's not called that way does'nt make it any less of a direct sequel of the child timeline.
A direct sequel from the adult timeline is also impossible cause it would'nt be the same link and the adult timeline started the era without a hero.

What I'd like would be a explanation on why the era where the hero is defeated exists. Maybe Ganon or some other villain after OoT (somewhere in the adult era, probably the latest game in that era, after spirit tracks) found a way to go back in time and alter the result of the battle, therefor creating the ''hero is defeated'' era.

Or a prequel (not direct prequel) to Minish Cap, where we play the hero who was the first to meet the Picoris and use the Picori Blade.