Except they already did that with FSA and TMC.

And Miyamoto really doesn't meddle directly with most games anymore. He had nothing to do with PH's development, for instance. As a producer, he's more concerned with ensuring that a game "works", so concept and late development stages are the times when he has the most to say.

Specifics aside, I think my point still stands. The usual time we hear that a game has been 'in development' includes some time just with brainstorming and concept art, as well as time for debugging and polishing, usually it will include time when some of the teams staff are working on other projects. If Zelda Wii hits in 2010, it will have had an extremely long development time, even compared to other Zelda titles

They were able to get 1 million sales on a 3d mario during the Wii's stronger period in Japan.  They wouldn't be able to get that now with the way the market is today.  A 2d Mario would be way more exciting to Japan then another 3d Mario.  A 2d Mario would be a system seller in Japan a 3d Mario would only sell to those who already own the system.  That's a huge difference when talking $$ earned.

Miyamoto has even stated during an interview that Nintendo of Japan has been pushing for New Super Mario bros 2.  Most people assume it'd come out for the DS.  I suggest they bring it out for the Wii and prop up their system sales.

Besides, Galaxy is still far short of NSMB in units sold (and probably even on profit earned).

Ok so if Zelda Wii hits in 2010, it'll have been 4 years since the release of Twilight Princess. 

The other gaps between Zelda titles have been.. (I'll go by Japanese dates because they show true dev time)

Zelda -> Zelda 2: 1 year

Zelda 2 -> LttP: 3 years

LttP -> OoT: 7 years 

OoT -> MM: 2 years

MM -> WW: 3 years

WW -> TP: 3 years

Going by this the mean time between Zelda titles is just over 3 years which supports your argument that Zelda Wii will be in development longer than usual if it doesn't make it out until 2010. However the fact that this is supposed to be a franchise overhaul and that Twilight Princess was 'the last Zelda of it's kind' points towards this one taking a bit longer than usual.

Between LttP and OoT we got Links Awakening.  So tighten up your dates please!  Links Awakening was a full zelda team game.  So was Phantom Hourglass.

I have a feeling that Links Awakening had as large or even larger budget then LttP

If you include Link's Awakening then OoT was 5 years after that title I believe..

EDIT: Also the wait between WW and TP was actually 4 years not 3 years

Via wikipedia: In Issue 37 of the British Official Nintendo Magazine, released 21 November 2008, it is stated that "the teams [are] still in the planning stages" and that "we wouldn't expect to see or hear anything more until the E3 event next summer at the earliest" and that "even that may be optimistic". However, the magazine says that "we WILL know something in 2009 [about the title]".

I'd say this is just interpretation by the magazine though and is pretty much useless. They wouldn't still be in the planning stages 6 months ago.

You are totally right, no way the BIG title for Wii this Chritsmas is Zelda. Given the fact that Pikmin 3 is not so popular to consider asking Gamestop to reserve shelfspace, the only option left is our worst nightmare: Wii Fit Plus is the BIG Christmas blockbuster.
But if they can do a good Zelda I forgive them. I was quite disappointing about Twilight Princess. It was set to surpass Ocarina of Time, and it is evident it didn't. I mean, like Miyamoto said, it was a good game, but something lacked. The story sometimes was weak and incoherent.
If we are going to wait more years for the next Zelda, I expect them to create something incredible and never seen before, but please, don't shift resources from Zelda team to other 'minor' quality projects like Wii Fit Plus, just let people make a good work....and Miyamoto, support them. And please, the next Zelda must be ONLY a Wii title, not delay it so much so this way you can use it as a launching title for the next Nintendo console, just like they did with Twilight Princess.

Pikmin 3, Zelda Wii, or a new IP. Zelda does make sense because it would command the most shelf space, and Nintendo has been telling a lot of stores to reserve shelf space.

I just don't see Galaxy 2, I'd love it but just don't see that happening, Nintendo doesn't milk their franchises that badly.

Just dug this up from a while ago, it seems they are even further behind than what I thought.. Look for Q2 2011 I'd say