What I expect from Retro:
Link as a lone, silent warrior.
Link, in the original Legend of Zelda, was a journeyman or wayfarer. What little we know of him, we learned from his actions; he was willing to help an old lady, and take on her quest to rescue a princess and defeat an evil tyrant. He was skilled with the sword, but carried no weapon. Link had a history, but his character was an enigma.
One of the most typical idiosyncrasies of modern western developers their tenacity towards either 1) a more of comprehensive form of role playing, or 2) the idea of the player avatar as a vessel for/extension of the player. The series lends itself more towards the latter clause, and thus we may see a Link more akin to that of the original, or perhaps, Majora's Mask.
An intricate world that projects a sense of history and intimacy onto the player/avatar.
Metroid Prime told its tale through a combination aesthetics, level design and various progressive techniques. A sense of melancholy dread, coupled with respect for the iconic scenery and allusions to the past (both in context of the game's narrative, and the perspective of the franchise) was introduced during the landing sequence, and never left.
The same, or similar, techniques could, of course, be applied to Zelda. One of my absolute favorite aspects of Phantom Hourglass was the move in that direction - integrating gameplay mechanics as well - with the Ocean King's temple.
I would also love to see a Zelda with a rich sense of wildlife and fauna. Retro did that well with the Prime series.
A plot structure that, to some extent, eschews the series traditional tropes and pitfalls.
Unlike Khuutra I do not expect Retro to touch the Zelda main cannon. They have yet to use a traditional villain as the main villain, and I would not expect them to stop now. Instead, I would look forward to a take on the Zelda mythos that is perhaps less structured than recent titles. If the series is to return to its roots, as I believe would be likely, it would likely eschew many of the progressive sections of the game in favor of more emergence and exploration.
Combat I do not expect Retro to change too much - perhaps it will be more action oriented, as some claim, though this was not the case in the Prime series.