Make it look like mario galaxy :P

I would much rather have the cel-shaded art style. TP was better in everyway from WW, except art style.

Also probably more dungeons, harder puzzles and definitely harder bosses. The ones from TP were pushovers.

A more interesting story, with more characters you meet. In TP, you were alone after the first three dungeons.

Stronger Bosses for sure, I think I only died once in TP(I died in the bridge of Eldin fighting against a orc in a giant jabali). I don't want it cel-shaded, I want it to push the Wii graphics to the max. Music like MM or OoT(The link-wolf songs were horrible, they should put instruments like MM or OoT). I want the ice/fire/light arrows back. 1:1 sword fighting would be awersome. More side quests, more mini games. I think that all IMO.

I think the Zelda franchise needs a complete overhaul. The whole gameplay style has not changed much. Maybe that's great for long-term zelda fans, but I would prefer they spend more time on the "story" and avoiding so many tedious tasks. I use, for example, two things: Wind Waker -- using those little "spit pods" to make your way up high out out of the level with the huge tree. That got old FAST -- as did many other tedious areas of the game. In Twilight Princess, for example: Using the hawk to get the monkey basket... Neat, sort of, but it quickly became just a tedious task. The Zelda series is just chock full of going through the same level back and forth, trying to solve a puzzle, etc. to the point that the series drives me nuts. After about 20 hours of gameplay I simply quite playing Wind Waker as it became a tedious bore of a game.

I'm fine, graphically, either way -- cell or realism -- as long as it is well done and the art style is impressive.  I would like to see voice acting for a change as well. 

I agree with KN on one thing. The series should look at making an overhaul. But by no stretch of the imagination is either WW or TP boring. I think TP was very moving, with characters like Midna joining the fray.
I would definitely like to have even more emphasis on character development, and the 1 to 1 sword movement would be stunning.
Thye just really need something revolutionary on the next title.

One other quick note.

If the game has the graphical fidelity of SMG, then I am going to be extremely happy.

It should play in Space, (remember Link is actually a Vulcan) and I want to find out that Ganondorf is actually Links father.....yes that all it really needs.

Wait...so you want the game to retread Wind Waker's history - where there is no Link, which means you're not playing anybody, but no Ganondorf - who's completely behind the events that precede Wind Waker?

O...k...

Anyways, I'm not going to jump to a wishlist for Zelda Wii because Nintendo already said that it was an overhaul for the series which means that anything I possibly want/guess may or may not be there. However, I would like them to combine the tool system from previous games with the magic system from Zelda II to an extent. The magic would be elemental based and used in conjunction with the Wiimote. You'd have the basic tools from most Zelda games like the bow, bombs, etc. But using the elemental magic, you could enchant the tools for different effects. Enchant the bow with fire and you get Fire Arrows, enchant Link's tunic with the same fire magic and it turns red and becomes heat resistant. Enchant Link's boots with Earth magic and they become clad in iron, etc.

In terms of art style, I hope they'll do something brand-new. Maybe falling somewhere inbetween Wind Waker and Twighlight Princess.

I think they're already in the process of overhauling the game design somewhat, Phantom Hourglass is a sign of things to come. The basic design will probably be similar though: cave->item->boss.