It would be disrespectful for me to not match one's hard work with my own, at least in a feeble attempt. After about 1.5 hours of screwing around, I made this image file. It is attached to this post (duh).
It's an ICO icon file because maybe, it would also make a good Project64 icon. I made the 32 bit images within the icon by stealing the graphics from either Zelda OOT or Zelda MM. If you use the Direct64 plugin, the way the N logo is shaded in much differently, a way I found to look intriguing as the possible new Project64 icon. The 4 bit icons were made by dumping a 2-D N logo from Pokemon Snap, converting the image to 4 bit and removing grey pixels that messed the image up, bunch of resizings and repititions that took longer than it did for me to make the 32 bit icons.
Original 4 Bit:
Original 24 Bit:
Personally, I think it'd make a better new Project64 icon, but I post this here as it could also make a good logo for your website.