Well to tell the truth, I'd be quite peeved if we used tracks which had a highly specific and meaningful context in their original games. Like "Ballad of the Wind Fish". Or most of the tracks in Majora's Mask.
But otherwise, yeah. As long as they "fit in" with the current music we've got in it.
Though don't forget: to re-use music for a particular area is to dilute the perceived significance of that area. Important cutscenes, the Triforce dungeons, the final boss and whatnot definitely merit original music. But if it's just a Heart Piece cave or a miniboss then yeah.
