If Nintendo decides to go through with a Majora's Mask remake on the 3DS, I'll buy it on day one without regret. Ocarina of Time 3D was a solid game, but no more so than it was in 1998. The game is still a landmark title in the series, but I don't think it's aged well. Don't get me wrong, fans of the game who played it when it came out can praise it all they want. I think it's fine to relive fond memories of a good game. But I also hope those same people will give Majora's Mask the attention it deserves now that they've grown up and can appreciate all it has to offer. It's a solid sequel, one that I personally think outdoes its predecessor in every way, but maybe it was just released a little too soon after Ocarina to avoid being overshadowed.
Majora's Mask is nothing short of fantastic. If you like Zelda, you owe it to yourself to play it. Even if you don't like Zelda, there's a lot to love here (just take me for example, this was the first Zelda title to break into my very exclusive favorites list). Dig up a copy for your N64 or wait for the 3DS remake. Either way, make it happen. You won't regret it.