Yeah, for all the people sayign it's going to be a lot like the old Zelda games, yes. It is. Atlus said so themselves. It's very specifically being built as a HOmage to Zelda (Mind you, it's very odd that a homage to a Nintendo title is PS3 only, but I digress). For the most part it's suppose to play like the old Zelda games, though they added in things like being able to custumize your blade more, by changing the length. That was one example listed in Game Informer anyway.

I image the pure Homage nature of the game to be the reason it's not coming out full price, or at least part of the reason. :P