I really hate to think that this is being done to appease all the boors who criticized Wind Waker's graphics, but it does look great. Can't say I'm not looking forward to it.

Edit: I watched the trailer and, like Wind Waker, as great as it looks in screenshots, it looks a million times better in motion. The music is amazing as well, of course, and even the expected metal-on-metal sound effects are impressive.