Okay lots of people who have played the first Legend of Zelda saw the old man in the first dungeon that sais 'Eastmost Penninsula is the secret' and lots of people wonder what it means, so here just post what you think it means.
I think that it was from the beta version of the game and it had a secret item all the way on the east side of the map but they took it out when they made the game, or it is something that they made to use in a future Zelda game if they were still making them (Which they of corse are).
What do you think it means?

I'm thinking that it has something to do with, what you said, a secret area or item coded in at beta and then taken out afterwards. It could also have to do with something in real life-- Who knows!