You are all thinking about this wrong: start with the changes to gameplay/hardware, and work backwards. Remember than TP is a GC game - not a Wii design.
Been playing a lot of Okami, and it spanks Zelda:TP in game design. They could really learn some lessons from Okami.
Some thoughts I have had:
- WiiConnect: Getting people to play together online is *probably* a bit much (even 4 player parties), but some form of trading or collection element would be nice. The ship component trading from Z:PH was good, but would have been great on WiiConnect.
Imagine something like a "set of parallel universes" (every player is a Link, which is in a different universe) - where you have to cooperate to solve puzzles. So the world keeps changing every night. Of course, since its probably going to be an offline game as well - they would need some alternative to something like this.
- Wiimote use: Apart from just "gestures", the whole drawing on the screen thing needs to be brought into Zelda. Either a different set of items - or a game heavily based around magic (yes please :>). Draw the runes to cast, or something like Okami (just more polished re: Wiimote use).
- Gestures: The big one is the sword. Will they keep the "shake to attack" of the sword? Probably not - and go for some better gesture based system. Some ideas:
- do a "throwing" motion with both hands to toss bombs
- use some force to release the boomerang (if there is one)
- do a hammer motion to smash things with a hammer (two distinct motions)
...
In a way, Zelda is the easiest game for them to design - its just a question of coming up with a good design. They could take link to any world, any time - do anything with him.
Oh yes - and please get rid of the "realistic" graphics, and use some cell-shaded / painted style. Okami has the most beautiful (in-game) cutscenes I have ever seen in a game.
If it was up to me: take link to an alternative world (new areas to explore), throw in magic (and make it essential), add real RPG elements (wouldn't complain if combats on the overworld took Link to a sub-battle scene, ala most RPG titles) - and then link the new-magic world with the old one, and interleave the two worlds. Theme: New & Old, Magic & Tools, Future & Past