During Nintendo's E3 address earlier today, company boss Satoru Iwata took to the stage and, amongst his talk of demographics and smiles and warm, fuzzy rainbows, spoke a little about the important things. Like what the Mario & Zelda teams are up to. He said specifically that both teams were "hard at work" on "new games for the Wii", but stopped short of saying just what it was they were working on. We'll hope that they're working on, you know. New Mario & Zelda games. And not Wii Cook or something.
UPDATE - Looks like both Zelda teams - Wii and DS - are indeed working on Zelda games.