That does look nice, and I certainly hope that they can create a truly great game. However, one thing that I always wonder is whether or not they really can capture the expansive feel of the early games. In retrospect, TLoZ and ALttP felt more expansive than they actually "physically" were. I think the vastness is perceived, to a large extent. I suppose the novelty of the games, at the time, contributed to feeling of size. I liken it to a trip taken as a child, versus taken as an adult. When I was young, a field trip downtown, or a ride to my grandmother's house felt like a journey. With as much driving as I do now, those same trips would go by in a flash, and be quite mundane.
To sort of mirror what has been mentioned by a few, already, I hope they don't just make the map huge, without providing substance. Conversely, I hope they don't swing the pendulum too far in the other direction, and add things unnecessarily to avoid "emptiness". To really bring back the magic, they need to create a world that seems to extend beyond its own "physical" boundaries. It must be interesting, and novel enough to not end up just being a tedious impediment to getting from point "A" to "B" (although the early games had the same issue, thus requiring frequent use of warping). With as many "epic" games as there have been, this will be difficult to achieve, I would imagine.
It will be interesting to see if they can really pull it off, this time.