S.Peelman on 10 August 2014
Well, the Collector's Edition is just a collection of four ports of older games; LoZ NES, Adventure of Link, Ocarina of Time and Majora's Mask. All of which play better on their original consoles anyway (except that Ocarina has a better framerate on GC). Besides that it only includes a 'Retrospective', which is a short video you could probably also find on Youtube about the Zelda games up to the point the CE released and a demo for the Wind Waker.
The Wind Waker is of course, a full game that was made for the GameCube, but I feel it's remaster on WiiU is vastly superior. GameCube also has Twilight Princess, if you haven't played it on Wii.
It really comes down to which game you'll prefer, but I have to ask: Why not both 
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