This always baffled me. How can a Japanese company, of all companies, make such a bad sword stance. This is a classic how Holywood rips of Japan and then Japan rips off Holywood. There is no such stance and my master would always beat anyone who had arms stretched to the sides like that.
Welp, there you have it; NeoGaf itself believes Link is a girl, so roll with it Nintendo .
On a more serous note, I wouldn't mind it honestly; it would be a great way to make the newer games in the series and offering male/female character options at the start of the game would be a very welcoming idea to all gamers .
Very few games in the series have Link have romantic relationships with people (the only ones I think do that are OoT, Twilight Princess and Skyward Sword), so the idea isn't crazy to begin with.
With the Wii U game being open-world, it would be nice as games like Fallout 4, the Elder Scrolls games, and others offer the option, so why not you Nintendo?
To my knowledge there is nothing that requires the hero of time or the other tri-force piece holder to be any particular gender. So, female-link, etc. should be able to exist within the Zelda universe.