Just to play devils advocate, and not because I share Ian's opinion, what if a Zelda bundle is just s way of Nintendo saying: hey get ready for another GameCube, we're going to blow our load with franchises, do get ready with this!
Of course, you'd have to ignore the (few) new experiences available, or soon to be available on the system, to believe a Zelda bundle means Nintendo is essentially giving up on the console.
I think at this point, fans and gamers alike would be happy with Nintendo if they just stopped being so secretive with what they're working on. Show us a beta you're working on with some brand new ideas and characters, give gamers hope that things will get better. When I was younger we had screens of Majoras Mask in Nintendo Power and gamers would speculate and wonder.. Now we get nothing but a promise that games are coming. To this day I'm curious what Conker 64 played like before it became Conker's Bad Fur Day, or how much of Dinosaur Planet remains before the Star Fox Adventures overhaul.
Then again, for all the Ians of the world....
"there can be no true despair without hope." This would be their train of thought, when time after time a new game or idea I'd shown in early stages, only to be canceled or revamped in a Nintendo franchise mold. But I guess that's why Nintendo started showing games only when they were close to completion. Thanks a lot, cry babies.