First of all, the new Zelda game is called "The Legend of Zelda: The Reins of Sorrow". You can use this to change your horse into various animals to get around the world easier. Here's teh quote.
The game, a sequel to 2003's smash hit The Wind Waker, will feature a new Link, one "whose personality thrives on his emotions." The game is also said to be more character-driven, with "Link having a deeper and introspective personality," one that reflects "the sheer magnitude of his determination and sense of solitude."
Gameplay elements were also discussed: "The game will feature an even larger world than the previous titles, so exploration will be the key." To traverse this vast land, Link will now have to set up camp and rely on a magical item: the reins of sorrow. "Link's new friend is a horse named Poseidon, whom he saves from drowning in a flood caused by a terrible storm. On Poseidon's back are the magical bridles, the reins of sorrow, which allow him to transform into various beings." Some 'beings' mentioned were an eagle and a wolf.
This sounds pretty cool. I can't wait until it comes out, but "The game will feature an even larger world than the previous titles"... damn. I sure hope that it doesn't include WW. But, if you get the eagle soon in the game (I'm assuming it's the warp thing in this game), I guess it won't be too bad.
But, a wolf and an eagle... still looks like a LotR copy to me, of course the game will be a lot better than EA's.