God I love you for making this topic.
*ahem*
There is no single Zelda timeline; they have never been officially put into any chronological order. Because of this, many many fans have created and argued their own timelines ever since the internet made it possible. This particular timeline is actually fairly controversial. Most of the Zelda timeline enthusiasts who have watched this video poked many and various holes through its logic (
Zelda Legends this link leads to a discussion on that trailer's timeline)
I personally don't believe that every single Zelda game fits into one neat timeline. I believe that the games fit best when separated into different chronologies. Think of it like Batman and how he has movies and comics and shows, etc that are all very similar, but unrelated in terms of their story.
I think it should go like this:
Master Sword Timeline (most games focus on Master Sword)
This is the "most popular" timeline in terms of amount of games and recent interest. This timeline basically focuses on the legacy of the Hero of Time and the Master Sword. It starts out with Ocarina of Time and that whole story, and then continues into the Majora's Mask. The next game is apparently Twilight Princess, supposed to be several decades after OoT with a brand new Link and Zelda, although I haven't finished it yet to confirm. Centuries after that is supposed to be The Winder Waker with yet another Link and Zelda. Phantom Hourglass is reported to take place immediately after that game. A few more centuries to maybe a millennium afterwards comes A Link to the Past and immediately afterwards comes Link's Awakening.
I like that timeline because it neatly lays to rest the story in ALttP. Ganon has finally been killed, not sealed or imprisoned, and the Master Sword has been laid to rest "forever." LA is just sort of an epilogue to finish off the Link from ALttP's story to rest.
The next one is what I called the "Original" or "Triforce" timeline because its the story started in the first game, and because the Triforce plays at least a little bit of a bigger role in these stories than the others.
This one starts, of course, with the original Legend of Zelda. Adventure of Link happens only a few years later, at most. The follwing games are Oracle of Ages and Oracle of Seasons, in whichever order. Its a little unconventional, but I think it fits nicely. You may or may not know the the Oracle games were supposed to remakes of the first two Zelda games, so they already have that sort of feel to them (even a few of the bosses are the same); plus, you may remember that AoL had Ganon's allie attempting to revive him. Well, if you complete both OoA and OoS in a link game you'll realize that they succeed. It works out well, I think.
The third final timeline is the Four Swords timeline. I'm not really familiar with the details of this story since I don't really like these games so much, but I figure it goes something like: The Minish Cap, Four Swords (from ALttP on the GBA), Four Swords Adventures.
Yeah, I can dig it.
*shrugs and walks away