To riff off of Ian a bit, I agree that the post Ocarina games have largely been reiterations of OoT. (Although I think Wind Waker's aesthetics and ocean structure are probably radical enough to count as new things.) But, as has been said before, this is the curse of OoT, which basically invented a large percentage of what's taken for granted in 3D games, more so than Mario 64, given the death of the platformer. But like Ian, I too feel like AAA single player experiences are a dying form, and I'm not sure how much different a single-player focused Zelda game can be from that tradition. In a way, changing it up from OoT is like trying to reinvent the wheel.
That being said, reinventing the wheel should be the job. It occurred to me a while ago now that modern Zelda and Metroid share similar design skeletons: explore world in a general order with plenty of optional distractions, obtain items/powers, return to previous areas to unlock doors/access power-ups, etc. Given this fundamental similarity, it would take something quite startling to reincarnate Zelda (or Metroid) differently. I am super open to whatever they come up with, but I also fear that this could be Nintendo's first big reboot ****-up.