Ugh, so many things thrown into this one so poorly... Alright, I'll try and sum it up.
Everyone's storylines are existing along the same timeline. Yoshi has just entered the Eastern Palace, Grey has gotten his hands on the Ice Rod (Appearance altered for ease and cooler look), while I have gotten the Fireball Shield (Based as close as possible on the original) and Saph has NOT gotten the Magical Boomerang, but instead... The Gale Boomerang.
It's a pretty long and complicated story, but let me try and explain without giving too much away. The Gale Boomerang, at this point in time, does not have the Fairy of Winds inside it. That is an unaddressed plot point, which is a set-up for a Twilight Princess storyline I would like to do at some point in time. But rest assured, it still has all the powers it once had, and will get the Fairy of Winds in it eventually.
And as for the Ice Rod... No. I don't care about the original appearance, this one owns. Owns about as hard as CHECK OUT THE NEWS ZOMGWAFFLECOPTER!!!111!one!