Just tried the demo, I'm not all that impressed...
First of all, RPG Maker for a Zelda fangame?
4-way controls? Uh-oh
Best Zelda Fangame Ever? No way...
I'd say the best one is The Parallel Worlds, a romhack of ALTTP...very impressive, fun and challenging...
Also take a look at Zelda Classic, a full remake of the original Zelda (don't be too hyped though, it's basically the same thing with high-color graphics) including a leveleditor (there's shitloads of Zelda fangames using the Zelda Classic engine)...
http://zeldaclassic.armageddongames.net/
And then there's also Open Zelda, an open-source leveleditor and game engine based on ALTTP...
http://openzelda.sourceforge.net/
btw, is there something like Lunar Magic for ALTTP?
Edit: duuh, yes there is, Hyrule Magic...how could I forget?