This is a little belated, but of note because of the very cool Easter-egg that some intrepid fan found by playing the trailer backwards. Any fan of the series will pick it up the now ubiquitous theme (which first appeared on the SNES' Link to the Past). What it means for the game has yet to be seen (or heard), but early reports indicate that this game will be chronologically one of the first, if not THE first Zelda game in the canon, and may provide an origin story for the legendary Master Sword.
We'll talk more about this game after it's E3 showing this year; I probably don't need to mention how excited I am to shake off the mountain of dust on my Wii (not a metaphor), and play a new Zelda. Though the game requires the Wii Motion Plus, literally controlling the master sword in a Zelda game has to be a dream of every gamer and worth the price.