I thought this was an interesting article from ign's mike thomsen.
http://uk.xbox360.ign.com/articles/108/1084651p1.html
edit: this is g4's adam sessler's opinion:
http://g4tv.com/videos/45457/sesslers-soapbox-adam-vs-ebert---games-as-art/
Forgot to reply to this one. In a nutshell... games are not 'art' because that's not what their purpose is. They are however, 'design'. But.. and it's a big "but" games can *become* art through something called the cultural filter - in effect when a game become *iconic* it passes from 'mere' design in to the realms of being iconographic 'art'.
kat, interesting and although i've never play any of the zelda games they seem to be iconic at least within the industry, would they be a good example of the cultural filter?