Being that you're the second person I've seen to say this, I'm interested to hear what the reasoning behind this is. Sounds like it could be an interesting theory...
Doing this preserves the Sleeping Zelda as the "first generation Princess," as the Zelda seen in SS could have a daughter named Zelda and a son who become the siblings spoke of in the AoL backstory. And SS Zelda's husband (presumably Link) could be the King who rules the Hyrule kingdom with the Triforce.
This placement is convenient as the Sleeping Zelda bit is the only real hard story element from the original games that have any sort of placement quality and I've always hated the fact that all previous Zeldas were just coincidentally named that until the naming convention was put in place. It just felt wrong to ignore that entire story point. (Maybe it's just because I grew up when AoL was only one of 3 games, haha)
I don't see how there is much to contradict this placement now since it is definitely confirmed the Triforce was not always in the Sacred Realm before OoT in SS.
If you put the FSS before LoZ/AoL you have a nice Ganon backstory as well. Then you don't have to have any Ganon resurrection/revival plot theories, as all instances of Ganon's birth and death would be accounted for. And you don't have to worry about the Triforce being split up, since the Triforce is unaccounted for in FSS.
Then after the Triforce is reunited in AoL it can be locked in the Sacred Realm in time for OoT to happen with the birth of a new Ganon.