Many people have wondered about this before. A key problem to this theory is that Link's instance (which stores many of the variables we manipulate for glitches) is deconstructed when going through a loading zone, so even if you get Link into a weird state like Ocarina Items, it won't affect anything because Link's state will no longer be referenced when loading the next area.
I undestand. Im going on searching for new ways to improve routes.