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A zelda game that featured the same exploration, adn dungeon crawling, and puzzle-solving prowess, but also featured a acrobatic combat style, full of crazy amutations (non-gory for the kids) of the monsers. Also, feature the ability to command small armies of zora, hylian soldiers, etcetera, (this would also make a great multiplayer mode!)

In the original
Zelda, most of the time was spent in the overworld, exploring, and finding weapons, and simply buying stuff. This would be an awesome thing for a new Zelda, and for old fans, and it would bring back tons of nostalgia.

[color=red]Woah! I just had an awesome thought, Nintendo could team up with the makers of Shadow of Colossus, and the game could feature some larger than life enemies, pervading Hyrule field. OOH! howabout giant sized, well designed twilight creatures attacking Hyrule Caslte that Link Must defeat! lol srry, am i getting hyper? uum, anyway, Link could enter the twilight realm, (which is once again pervading the lands of Hyrule) and Epona could ride with Link into the twilight realm, and be transformed into, get ready... A FIREBREATHING DRAGON! and link would remain in his regular form.

the final boss would be something like a Mega-powerful shadow entity, that takes the form of Link, and then theyd have a Gundam style showdown, and his defeat (along with a highly dramatic cutscene, would mark the end of the game.)