Ironically, the lowest point for Link seems to come at the very end of the story, since he apparently gets his heart broken when Midna ditches him. Both characters are sufficiently well-realized at this point that the words 'devastatingly final' seem an appropriate description for their separation.
This, combined with the above-mentioned sense that he doesn't seem to feel like he belongs in his home village, serve to make Link's ultimate departure from Ordon quite a sad ending to the story. He rides off into the sunset, quite possibly never to be seen again by anyone in Hyrule.
Twilight Princess definitely has the best character writing of any Zelda game, which is why I felt moved to write about it. (Skyward Sword left me cold; I was bored and disinterested from the start.) I do see Link as being a Luke Skywalker type of character, heroic and idealistic and so on—which of course means that Midna is his Mara Jade, sarcastic and cold-hearted but with a hidden decency that becomes more apparent over time. And red hair, naturally.
In the course of analyzing the story and structure of the game, I made the rather startling discovery that Link is not actually the main character at all. Instead, he is the narrator, for the story is indeed told from his point of view, but Midna is actually the one the story is really about.
If there is to be a Zelda tv series, it seems doubtful that she would be in it, as they'd probably focus on a more traditional story about the Triforce and Ganon and so on. I have doubts about whether such a show would be well executed enough to live up to the spirit of the games, but thinking about this now is making me want to write more myself.