I still hold my position that SMB3 is the best Mario game because of how it simply revolutionized EVERY aspect of Mario. The RPG'ish elements with the item boxes, the "world map". The flying, whistle usage, just about everything in that game did it for me. Although I make a good nod at Mario 64 for being one of the first TRUE 3D environment games and it did a good job at it.
I liked Zelda, but Ocarina of Time is the only one that I can go back and play without losing interest. Windwaker felt like crap to ME, and TP I felt was a step in the right direction graphicwise and some of the gameplay elements, but of course if they improve some gameplay later on and keep those graphics, it will be a powerhouse.
Surprisingly (or not) I see other games as superior to Zelda that I can go back and play again and again such as Brave Fencer Musashi. A game where they truly emphasized further on the day and night aspects even moreso than Ocarina. I like the final fantasy series as a whole but VIII is still my favorite (in fact, I am currently playing it).
Then I go back further in time and look at other true gems that I hold in higher regard than Zelda (yes NES comparisson), The Magic of Scheherazade. For those that never heard of the game, the dev made 4 or 5 other games that sucked and Scheherazade was the only good one they produced. iirc it had day/night elements (solar eclipses), when the eclipse would be active, winning at the casino was much easier, planting a rupia tree to make massive amounts of money, access to the greater magic, etc. Also time travel, and 2 types of battle systems, the zelda action adventure type an the turn based type, and you come across 10-11 characters (it's been a while but I know it's around that number), 3 classes, etc. Whether it's nostalgia's sake or the need to try one of the best rpg's out there I highly recommend you guys give that game a shot.
Chrono Trigger and Chrono Cross also remain one of my favorite games for all the elements they put into the genre (the amount of endings adds sooo much replayability. Finally more games that I believe is not nostalgia but rather quality are Shadow Hearts 1 and 2 (good gameplay, amazing story, breaks away from JRPG traditions in several aspects), Valkyrie Profile 1 and 2, which to this day I personally believe these 2 have the BEST battle system with alot of depth (Ar Tonelico 1 and 2 also get a good nod on the battle system).
Current games that I hold high are LBP, MGS4, KZ2, InFamous (despite the few glitches, the story is comic book worthy, and great gameplay), Demon's Souls (I am a masochist), Ratchet and Clank.