Lazard Capital Markets analyst Colin Sebastian recently detailed a list of games he expects to release in 2009, which he believes would help drive industry growth by 5%. In the list of 22 titles, Colin includes a new Legend of Zelda, as well as a new Princess Peach game for the DS.
This is just speculation on his part, but considering what Nintendo has said about the teams and their work on a new Zelda, we wouldn't be surprised if we finally saw something on the game next year. Of course, you have to consider how long it took Nintendo to put out Twilight Princess. We're just hoping it doesn't take that long for the next game.