Except that you are all wrong since Shigeru Miyamoto and Eiji Aonuma themselves have gone on record saying there IS a split timeline in an interview with Gamepro in 2002.
"Aonuma: Oh, right, let me elaborate on that. Ocarina of Time basically has two endings of sorts; one has Link as a child and the other has him as an adult. This game, The Wind Waker, takes place a hundred years after the adult Link defeats Ganon at the end of Ocarina.
Miyamoto: This is pretty confusing for us, too. (laughs) So be careful."
You can say it's wrong all you want, but it's fact and has been accepted as such for a long time. Beyond that there are a lot of inconsistencies with the non-split timeline and Windwaker + Twilight Princess.
And for the people saying Zelda shouldn't be canonized, why don't you tell that to Nintendo? Miyamoto (I think it was him, either him or Aonuma) have also gone on record saying Zelda DOES, in fact, have a set timeline. The development teams create the Zelda game completely independent of the current timeline, then they have a small team who work to fit it into its proper place in the timeline.
Unless two of the most important people in Zelda development are full of shit or are outright lying then this thread is sooooooo very wrong.
EDIT: Here's a lot more info (with sources cited for all of you who are just going to cry foul even when you have no idea what you're talking about):
http://zelda.wikia.com/wiki/Timeline
BTW, that wasn't a dig at anyone in particular, I'm just so fed up with the ignorance surrounding this subject and the people who swear up and down that they actually know what's going on.