I think it won't be used for sword fighting since 1:1 controls mean the player needs to take a lesson in sword fighting.
I do hope it gets used for Zelda though, as you might remember when the Wiimote was announced I said I'd like a Zelda where there are no action buttons, just your Wiimote and the environment. You want to use a stick as a lever in some device, you take the stick, insert it and pull! Secret button on a statue? Find it with your own eyes, push it with your own hand! I believe a game called Trespasser tried that once but it was clumsy since no controller to handle it properly existed.