Wave Race won't be coming out this generation.. Nintendo have stated they want Wii Sports Resort: Jet Ski to be as robust as a Wave Race game and that supports WM+ so there's 1/10th of Wii Sports Resort plus you get that WM+ for free. As you can tell.. It's gonna be HUGE!
Also I can see your points with Zelda but I strongly doubt they'd release two Zelda's at the same time.. I mean I don't even think they've had enough time to work on the game.. Miyamoto said at E3 2008 that they were looking for big ideas.. That was 9 months ago? If it really does come out this year.. I'd be SO FREAKING HAPPY! but it won't..
It'll be Pikmin 3, Wii Fit Plus or another downstream game and an upstream game of some sort.. Red Steel 2 will be pushed heavily by Nintendo if they don't have one :P
