Okay, so it has been announced. Now comes the disection of the interview and ideas of the story.
Aonuma states that it will be a sequel to wind waker, much like majoras mask was to ocarina. This should go for both a continuation of the graphical style, and the story. This means the game will likely take place on Link and Tetras "new land". ( Just something that gets me mad, it will be tetra throughout the game instead of Zelda because she doesn't have the triforce anymore, that sucks ).
He says the playing field hasn't been decided on yet, but he must have a rough outline of the story and whether it takes place on land or in the sea.
---My guess is this: Stuff will start happening in the new kingdom. Link will start having dreams of Hyrule, and of its king sunk on the ocean floor. Ganon will rise (somehow) and come search for the triforce yet again. The king will return to aid Link and tell him where the triforce has been hidden.
The core of the plot still eludes me, but I bet this is the beginning. In one year it should be playable, meaning in 5-7 months, maybe even earlier at spaceworld, we should see screenshots and more storyline bits. I am already excited about this new chapter in the series, It will be great!