It's going to look gorgeous.
Come on, in the ND they almost literally said they were only experimenting with upping the resolution to HD and screwing around with some added effects to see how it looks also with regards to the new original game until now, and this is what came out. They didn't even upgrade any textures (and models) yet, which they are likely going to do.
And even if they don't, I'm happy that this is going to look noticeably different. If it would literally be Wind Waker in HD, it would get a flat (just look at the screenshots of the Dolphin emulator people posted) and uninteresting look because it would be exactly the same.
And Ni No Kuni looks gorgeous too, but what have you with such a legendary animation studio behind it's visuals.
