I actually really love water dungeons, even OoT's. I love the serene atmosphere that water dungeons possess. And the Zelda series has done a lot more justice to water dungeons than Fire dungeons, I'd say. Every time they have a water dungeon, they mix it up with some other theme and make it really unique. OoTs has this interesting Buddhist temple feel about it, and manages to have some of the most interesting and large vistas in the game. Majora's Mask mixed things up with an interesting "power grid" theme. Twilight Princess's was just gorgeous, sporting an Art Nouveu design with beautiful architecture, and interesting multi-room puzzles.
IMO, OoT's fire temple is quite possibly the most boring dungeon in the series. Very few lava dungeons interest me, they're pretty much all the same: dodge fireballs and cross lava pools while traversing dull red-orange caverns. It's not just Zelda too: Mario, Zelda, Metroid... hell, half the time I get OoT's Fire Temple and Magmoor Caverns mixed up, and seeing as though one is high fantasy and the other is dark sci fi, that shouldn't happen. However, on the flip side (haha, see the pun?) Twilight Princess really turned the lava dungeon on its head with the whole magmatism thing. Maybe that's why I love Twilight Princess so much, even though all the dungeons are typical elemental themed, they all diverged from the original themes and came up with really unique ideas.