Ofcourse games like OoT don't age well, it's importance was the revolution it caused in gaming and most importantly - gameplay.
Games that age well are games that have usually perfected a formula and got to the point of "looking really good", because of the, A link to the past aged a lot better than Ocarina of time.

Another type of game that ages well are games that the most important aspect of them is the plot, games like Deus Ex, Planescape: Torment and various JRPGs, pepole still play them today, and are still amazed by them, not because of the gameplay, graphics, or anything that is "important" to a "game", but because of their plot.

But Ocarina of Time perfected the formula Zelda was going for.  Including the formula Link to the Past was going for.

The only reason you can say Ocarina doesn't hold up to the current standard is either its visual presentation (graphics of course get better) or its technical limitations) which of course, being the first to do many things, it would eventually be surpassed).

However, it really says something that almost 10 years after the fact, Ocarina of Time is still so solid and fun to play.  And even has a better camera and targeting system than some contemporary action games.  The thing I think Miyamoto has been saying and even Anouma was trying to say here (in his rather downplaying tone) was that the next Zelda has to do something completely new than just be a graphical upgrade.  It has to re-invent everything, like Ocarina did with Z-Targeting and cinematic storytelling in a fully rendered 3D world.

What was it about the story in OoT that made it better or somehow stand out compared to Wind Waker och Twilight Princess?

Smash Bros still kicks but to this day, play it for 30 minutes your eyes get used to the graphics again. The level design beats the snot out of Melee.

Melee is by far better than Brawl, you don't even have to get used to the graphics by much, you can see where Brawl is graphically stronger clearly, but the flow of the game was much faster, much more chaotic even without items. The system just worked better.

You could be defensive or offensive or both, you weren't limited to a style of play even with wave dashers.

Brawl just doesn't stand up to it's

I HATED Zelda games until OoT. I mean it. I played OoT and I'm now a Zelda fan. No laughing. Though I think Wind Waker even with it's collect the parts ending is the best of them all. I think it has to do with the fact that I hate dungeon delving and that Dungeons should be a natural part of the game world. Wind Waker has been the closest element to natural dungeons. I also have a love of the sea and want to own a boat and go coastal sailing around the world :P Also I love Wind Waker music more, combat is better in Wind Waker because there are more objects you can jump on.

OoT is dated, but it's gameplay core still holds up and clearly a standard to it's later versions.

I disagree also. It really had the right balance of gameplay when compared to its various sequels. The one sequel that holds up the best is Wind Waker, which only had a few structural problems holding it back (the Triforce of Courage section). Majora's Mask was too convoluted, while Twilight Princess was too straightforward. Both of them did their extremes well. Majora's Mask had the best depth for sidequests so far, and Twilight Princess had the most gripping and involved main story

that would be Twilight Princess by FAR.

I'd have to say the combination of the before/after effects, the way the time travel played a huge part in the development of the story. Of course, the gameplay was a major part too, where things done as young link affected the world where old Link travelled. Wind Waker seemed... rushed for a story, didnt get interesting until you find out that old Hyrule was underwater. Twilight Princess was well done too, I call it the true successor to OOT.

I played Ocarina after playing a lot of this gen games and I thnik it holds very well even by todays standars

ok, personaly i think all the zelda storys are pretty meh, never really picked up a zelda and "man, that was a good story/ had got plot". i come for the gameplay

but i guess everyones different