I do not know about Zelda or about cheats but I have been using Super Mario 64 on my Pi with Mupen64plus-GlideN64 emulator and it runs fairly well.
I will say to make sure you have a powerful enough power supply. I was previously using a power supply below the recommended threshold and, while everything worked, I noticed games from systems like N64 and Playstation did not work so great. Then I started using a recommended power supply and I noticed that these games (such as Mario64) are working much better.
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