People have been predicting a Future Zelda for a long time now.. but has even been a fan-made trailer for it..

http://youtube.com/watch?v=lcvdT2C31oc

http://www.joystiq.com/2007/03/31/april-fools-alert-1-wii-tvs-future-zelda/

oh...how did I miss that. Well I still think it would be a cool idea.

Yeah that would be cool, it's not gonna happen though. The next Zelda might be different, but I honestly fear for the worst, with Nintendo's new direction and all.

 I don't think Nintendo's new direction will affect the hardcore gmes.  Granted, I think it might limit the number of new hardcore IP's, and possibly inhibit the release of current franchise greats, but I don't feel that games like Zelda or Mario will become minigame fests Blue-Ocean cross-overs.  Many may even say that the first sixty stars in Mario Galaxy were pandering to the casual crowd, but I would disagree.  Every Mario game begins with a very easy learning curve that doesn't doesn't begin to get difficult unti about a third of the way into the game.

Zelda, Mario, and even Metroid (a million isn't too shabby) have sold well enough to keep their hardcore formulas  intact and ensure that sequels will follow.

 Of course, if you are right I will be sad.

The next Zelda for the Wii will not go into space. And it will not be announced anytime during 2008. But there is a new Zelda in production. It is a more realistic looking Zelda (aka NOT Wind Waker).

 First....let me clarify:  I did not suggest it would take place in space....merely the future (as opposed to the pastoral setting).

How much more realistic would you like Zelda to go?  Any examples of current graphical styles that they could emulate? 

maybe this is a weak point but how can it be the Legend of Zelda if it takes place in the future? Anyway i'm really not sure how i feel. I would be nervous to see how it turns out to say the least

 Because The Legend Of Zelda doesn't take place in our universe and the story could be told even more in the future than where the game takes place. The technology in the game would be futuristic to us but not to the storyteller telling the legend. 

Maybe they went to Retro because they want a remake of an older Zelda title. Just to be cute and play with words...like "Wii". Maybe a total rebuild of the first Zelda. Or... A Link to the Past? Hmm...