A game that will forever withstand the test of time.
The storyline is one of the best you'll ever find in any video game, period. It follows a young boy named Link, who is sent on a quest to collect stones to open the Door of Time before Ganon, an evil king, does. When Link enters the Door of Time, he finds that there is a sword in a pedestal. When he takes the sword off the pedestal, it takes him seven years into the future. After the time warp, he finds that Hyrle has become overruled by Ganon, and now it's up to Link to save Hyrule. It's an epic storyline, and it's well-paced. The cutscenes aren't skippable, but they don't drag on for long periods of time, so it's completely forgivable.
The graphics were great for their time, and they still don't look all that bad to this day. Yes they have aged a bit, sorry graphic whores, but they still look good nonetheless.
The sound is extremely well-done. The soundtrack is composed of extremely atmospheric songs that perfectly fit with the environments, and they'll forever be burned into your memory.
Ocarina of Time gives you a fairly large world to explore, and the land of Hyrule is well-designed. Combat is also well done due to the fact that throughout the game you are given various weapons to help make combat smoother. The sword attacks are very basic and were improved in later Zelda games, but they still work well. The dungeons are well-designed as well, and they always challenge you and make you think. The boss battles are well-done as well, and the strategies required to defeat them are fun to figure out.
Are there elements that prevent Ocarina of Time from being inerrant? Sure: the Water Temple. It's a very annoying dungeon that forces you to go through very repitious routines in order to get around it. It took me a few weeks to get through the dang thing. Navi is also a bit annoying, but she's more of a nitpick than anything else, really. The Water Temple is the biggest problem I have with this game, though, and it doesn't hurt the experience whatsoever, but it will make you want to harm small children and make you feel less motivated to finish the game if you get stuck on it for long enough.
All in all, The Legend of Zelda: Ocarina of Time is an amazing game that everyone who likes video games should play at least once. Don't take my word for it, though, give it a try and see for yourself why many people consider this one of the greatest games ever made.