To delay Zelda U to 2016 would be suicidal. The Wii U would be dead in the water.
It is INFINITELY more likely they would cut content than delay the game. The Zelda team has a long history of cutting content--especially dungeons--when their backs are up against a deadline, and they usually do a respectable job of making do with other content. If Aonuma really feels the content they're working on is critical to the game, he will insist they push it as a free download. Nintendo might push THAT in early 2016, but not the game itself.
I really don't think it will come to that, anyway. Cut content is what will happen.







