This is a bit of an interesting rumor, but the discussion is on at NeoGAF that the next Legend of Zelda will be developed by Retro Studios for the Wii U.
It's not just speculation since one of the posters had a strong hint that it "maybe" was in the works but it wasn't currently being worked on since Retro is working hard on another franchise game possibly for the launch window of the Wii U. Should we get our hopes up? No, but it does make you wonder what Retro could do with the Zelda franchise since they did a great job with Metroid and Donkey Kong Country.
Link to the discussion