I'd be giddy with either one, to be honest. After seeing how they handled OoT's conversion, they have my implicit trust.If it must be ported, I'd take one of two things: Majora's Mask 3D, as I thought the OoT 3D remake was dope. I feel, with that kind of visual increase, performance and gimmicks, it would be best suited to the 3DS. Alternatively, if it were for the Wii U I'd prefer a total overhaul/remake, including an entirely revised art direction that uses the same dark shadow shading that appeared in the official artwork.
Basically Majora's Mask HD, totally remade to look just like the concept and promotional art, taking advantage of the Wii U's hardware.
That would be awesome, but much more expensive. End of the day for cheapness I'd prefer the former idea.
As of late, I haven't been able to get the idea of a 3D console version of A Link to the Past. Seeing Death Mountain, Zora Falls, the Pegasus Boots, those incredible dungeons, etc etc in 3D space would be incedible to behold.