I think its possible and it will be great especially for the newcomers that never played Zelda before, its been done in Final fantasy games, a mix of medeival landmarks and places and themes but in futuristic setting. For examples, FF VI, FFIX, FF X, FFIV, FF Crystal bearers and so forth...
end of core gaming days prediction:
E3 2006-The beginning of the end. Wii introduced
E3 2008- Armageddon. Wii motion plus introduced. Wii Music. Reggie says Animal crossing was a core game. Massive disappointment. many Wii core gamers selling their Wii.
E3 2010- Tape runs out
http://www.fivedoves.com/letters/march2009/ICG_Tape_runs_out.jpg











