This looks like a "what if" scenario where Nintendo released Zelda 2 on Amiga, but the conversion was handled by US Gold or Codemasters or something: )
Fantastic work!
Maybe this intense blue backround is a homage to the Shining In the Darkness / Shining Force games ? It may look less jarring on a CRT TV.
Is this using a specific palette? Looks like there are some difficult-to-use colours in there, and you've used them very effectively!
The one part I dislike is the bright blue background on the UI, it's rather unpleasant to look at. Personally, I think it looks better with the blue replaced with the darkest green or brown, as those colours are less saturated. Colours that have both high saturation and high value/brightness are best used very sparingly, and avoided for large fields of colour.
looks legit like a classic