Retro or Monolith would do an amazing job with Zelda. I don't really want Monolith to take it on, though, because I want them working on their amazing RPG's. They are possibly my new favorite developer, and their series my new favorite.
I think Retro would be perfect for Zelda. It's a game that has traditionally appealed much more to western audiences, and more western-themed ones like TP sell the best. They could give a fresh injection and the Nintendo Zelda team could re-invigorate themselves and work on a new IP.
That said, I really like what was said about the direction of Zelda U. If Nintendo EAD recapture the open-world roots of the series, make it big, beautiful and fun to play with excellent music, I will be so very excited.