Well then it is just chance who gets it first, we can't decide on that then. There is still much more speaking for Link, his is instant, Mace is in a movement of his hand, and usage of the force. Link can also performe magics, like burning Mace to crisps, then Mace crushes Link and Link fries Mace, but Link gets revived....
It's not like Mace is going to know that Link is being revived, you make it out like Mace knows exactly what his opponent can do. The fary just flies out from his bottle and Link gets revived, he can stock up to 6 in only one game, if he has all his bottles, he will have around.... 30.
Also, there are still things that make me believe Link will lose from that attack alone, even without his invulnerability...
Can turn into the Fierce Diety, which is what it sounds like. A godlike being that is...
Can wish Mace dead with the triforce.
Four swords, turn Link into four Link's........................
Stone Mask, turns Link into the terrain basically, like if Mace was looking he would only see the ground. He wouldn't know what to hit, and it is not as basic as invisibility...
The rings from the oracle games, which halves the damage done by 1/4, plus the silver heart which decreases damage by 1/2, that will not be a very huge amount of damage on him... That means, that a killing attack such as the crush, would only cause 1/8 of it's normal damage on Link...