I consider myself an authority on the 3D Zelda games (I suck at the 2D ones) so I'd like to step in if you don't mind.
Twilight Princess was and is a solid Zelda title. It doesn't hold a lantern to Majora's Mask or Ocarina of Time in terms of replayability, but it is amazing in its own right.
Majora's Mask is my favorite. It is the most unique of the Zelda titles and it allowed you to change forms and whatnot. You also had to learn how to move quickly to solve puzzles and use time to your advantage, learning something different on each 3 Day run.
Ocarina of Time comes second. I'm not entirely sure an explanation is needed here as it has been labeled the best Zelda game of all time by Nintendo Power.
Twilight Princess comes in third. The amazing visuals, gripping story which directly continues from that of Ocarina of Time, unique gameplay if you have the Wii version, fully orchestrated music (though the quality could have been better) and two forms (which I admit isn't fun until you have the ability to switch between the two). It is a little easy, however as someone mentioned you must take into account that you know what to look for now. Because to be honest, I still struggled with the fully original challenges. And I now breeze through the old games that were once so challenging. It's just a matter of knowing where to go and what to look for.
Wind Waker comes in fourth out of four, not because it's a bad game, but because the others are better. I adored Wind Waker...and still do really. We'll see if it stays in last place once the next console Zelda title comes out.