"but after looking carefully I found this"
My capture is better

I suspect that this is a new land is the place they've found, and may very well be essential to the plot. Maybe not as much as Wind Waker was, because it was a major progression, but I think it'll push it along more than Majora's Mask. I think he's in the same universe and that it's a different Link (as in it's probably Wind Waker Link) and horse. I'm definitely interested in how it'll turn out. I'd be just as excited either way.
In addition:
I think the eyes could be intentional, it's possible (if the effect isn't random), but it's as likely to be some sort of homage to Majora's Mask as an actual plot factor.
The wolf I do think is important. What if Link can transform into a wolf? I thought about it, and it occurred ot me that if that did happen, that unusual crest of land the wolf is on in the trailer is probably significant as well. Link can only turn into a wolf there, and at night, and that will add strategy to the game much like the special stump locations in Minish Cap.
Or it could be some sort of NPC, as well. I can't wait to hear more about this
More worth noting:
Take a look at this screenshot:
Old MoonIt's an older screenshot depicting the moon without any sort of distinguishing marks on it. There's no sign of the moon being the one in Majora's Mask, and I think that if it were a major plot point they would have had some suggestion of it early on. The large moon is either coincidence or at least not plot-related.
Also, I've been wondering about something in the baboon miniboss (which I'm assuming it is) scene. When the baboon throws the boomerang at Link, it misses him and hits the evil plant things. But as it hits them, Link leans back at of the way, and I can't tell whether he's getting hit or if Nintendo has included something else. Maybe Link is moving out of the way, to make the fact that he wasn't hit seem more realistic. He may be reacting to that happening so close to him.
I'm not sure, but it's been bugging me.