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Gnizmo said:
The time span between Zeldas has been a lot shorter in recent years than you seem to think. One of them hits the console about every two years, so an E3 announcement for the game this Fall wouldn't be out of the question.

There's been a Zelda out pretty much every year this decade.. I seriously doubt they're ready to actually release the new one one this year but we should see an announcement or something.