I'm certainly not against a female main player character. (my Skyrim character is female) yet if there was to be a female playable character in Zelda, They should do it along the lines of Link and a sister (call her Lynn. lol) kind of like the four swords thing. Play co op, or switch back and forth between the two. Then again, that's just me.
Jeyl, I'm in no way trying to start an argument. I read this a few years ago, yet I don't know where to find the Link again, so this is based on memory. Link is supposed to be an extention of the player, or "link" to the player, hence his name. He's you, essentially. So as for all the women in the games, Zelda, Malon, Midna, Ilia, etc.. it's sort of up to you to interpret who Link ends up with after the games. (while it's implied Midna and Link got a thing, They obviously don't hook up. she's the one exception) It's up to your imagination, so basically if you like Malon over Zelda, then that's who Link ends up with. (Link between worlds strongly implies Link from LttP did end up with Zelda though, because there were no other female character choices for him during that game. Marin doesn't count, as she was just a dream)
Wes R, there's 3 timelines now, so I don't think any will merge. There's the Downfall timeline, the Hero Child Timeline, and adult timeline.
Zelda Timeline - Zelda Wiki