Personally, I loved Wind Waker's graphics. It reminded me (moreso than any Zelda since Link to the Past) of the original NES Zelda game (you know, the FIRST one, where Link is a cartoon kid? Sound familiar?). I was never that big a fan of his OoT design (the artist wasn't very good at drawing faces, in my opinion, and I'm extremely picky about faces in artwork since that's wherre the essence of the character is). I'd play Soul Calibur II more (read: at all) if there were an alternate costume for Link that made him the Wind Waker cel-shaded version (you can't tell me that a little cel-shaded Link kicking Cervantes' ass wouldn't be beyond awsome).
I also loved the story and characters and sheer amount of stuff to do in the game. Anyone complaining that it wasn't long enough obviously didn't complete all the side-quests and minigames. I wasn't impressed at all by the original Spaceworld video. "Oh look, it's ocerina all over again, yay" was pretty much my reaction (and to this day, OoT remains the only Zelda other than Majora's Mask that I've not beaten and loved...I just lose interest in it after about an hour of playing), and I couldn't have been happier that Miyamoto went in the direction he did with Wind Waker. Better control, much better graphics and visual style and characters that aren't ugly as sin (Impa in OoT is...ugh...did I ask for a mannish pro wrestler woman?) made Wind Waker my second favorite Zelda to date (the first being Link to the Past, which is still one of the best games ever).