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The director of zelda said so himself last year (or end of 06) that they were only in the concept stages of the next zelda so absolutely no way they'll get it out this year. Heck, 2010 is likely the earliest possible.

Keep in mind that they do have to build a completely new engine still. TP was using a gamecube engine setup so ideally they would build a new wii engine for zelda wii or at least heavily modify another engine.