I don't think it'll take that long.  The only time it has taken more than three years for a console Zelda to be released was Twilight Princess, and that's only because it was delayed to make it a Wii launch title.

Is Majoras Mask even coming to VC?

Most Nintendo core titles come out in the fall (although they release quite a few in other parts of the year, too, so it's tough to tell). The next Zelda will most likely release in September or October, giving it time to sell plenty in the release window before Christmas, then continue its momentum through the holiday season.

Late September or early October of next year make the best sense.

2010 March

Thats very true, however giving Wii's current success Nintendo are releasing games faster than ever so I think it's safe to bet on a new Zelda being released in 2009.

The only pattern worth noting is that anything Nintendo makes will print make money, and Nintendo will release their games in whatever way they think will print make the most.

I hope we get one next year but I don't think it will have been long enough.. The team were still trying to find those new key ideas at the start of this next year and I'm sure they would have made a nifty new engine.. I'm thinking the Zelda game may release in 2010, either Q1 or Q2, whenever there are less games..

But hey Nintendo! Feel free to suprise me!

next gen

Christmas 2009 in Japan, Q1 2010 in USA\Europe.

Uhh no it'll be a worldwide launch..

Zelda isn't big in japan..