That new Zelda game for wii got a name recently, and that name is Skyward Sword. From the pictures currently available, it doesn't look similar to the picture we saw where link's sword was a female ghost thing, but it is infact that game.
Graphics: The graphics look amazing in this game. It has the cartoony cell shading effect that Wind Waker had with the shading and realism that Twilight Princess had.
Gameplay: They really worked motion controls into this one, and I'm a tad disappointed. The game uses wii Motion + to control the sword, so it SHOULD be accurate, but the nunchuck which has limited motion control abilities is used to bring the shield up and shield bash. Hopefully it will work out.
Items: A lot of the new items look pretty unique. There is a whip and a flying beetle that will be of major use in the game, as well as the classic slingshot and bow, and several other items, 11 in total now, but more may come in development.
Release date was said to be in 2011 if I remember correctly.
Discuse.