With the team spread thin, working on multiple platforms and projects... Development will be tough.
Nintendo EAD 3 released 2 Legend of Zelda titles in 2011; Ocarina 3D and Skyward Sword. Since the, we had a 2 Year wait for Wind Waker HD and Link Between Worlds, both in 2013. WWHD was remade from the ground up so it will have taken significant dev time, while LBW was an entirely new game. On top of that, they just released Majora's Mask 3D.
Since the Summer of 2011, EAD3 have released 5(!) Legend of Zelda titles at retail for Wii, 3DS and Wii U. Releasing so many titles on different platforms in a short period of time will put a strain on development. With the N64 nostalgia trip out of the way and the Gamecube Zelda titles now being available on Wii/Wii U, I think from this point onwards it will be balls to the wall development on brand new Legend of Zelda titles.
Expect Zelda U to release in 2016 and the next LoZ game to be out before 2020.
