I liked sailing in Wind Waker, and I think it fit the world well. However, I don't think there will be as much sailing in this. The world won't be as vast, and it looks like you draw your course ahead of time. It'll be a fairly quick trip that you don't control. By the looks of it, the course works itself out while you fight off baddies. Which I say is awesome.
This game is looking like pure love. Nintendo is sucking me dry, financially. The visuals are gorgeous (much love for Wind Waker style), the gameplay looks like a good mix of old and new, the touchscreen aspects look really well implimented (which is great, I actually didn't expect it to be that good), and everything looks fun.
I really like the look of that boss (not sure if it's a dungeon boss or not; it's outside, but it wouldn't be the first time [Link's Awakening: Eagle's Tower]).
Christ. I have to make a list of all the games I want, both that have come out and that are coming out.
Edit: I also like the idea of a fairy in a 2D game, I don't believe we've seen that yet.