I think it would be better if it was totally new. They can stay true to zelda, but not do the exact formula, they could take the best parts from the previous games and make one game with all of those things, also take the bad and exclude that.

Have

• Large expansive open-world with multiple continents and a good way to traverse them such as the horse and a glider in stead of the boat
• Magic bar and magic spells
• Upgradable epquiptment Gauntlets, tunics, swords, boots, etc.
• Bring back all races Dekus, zora's, Gorons, bird people
• More side-quests
• Horseback combat
• Good sword mechanics
• More sensitive wii-mote controls (link swings sword the way you swing controller)
• new last boss, give Gannon a one game rest
• Bring back Link playing an instrument such as flute from Alttp or Ocarina or even a new instrument would be cool but bring back songs with powers

• Effect masks from MM like Bunny-hood and stone mask and The transforming mask but have one for every race like Deku, Goron, Zora, Bird-person, stalchild, etc.
• Clawshots replace hook-shot permanently
• Keep the amount of voice acting That's in there. have most of the Dialogue be text.
• HUGELY long one player quest like 45+ hours.

Lose

• No River Zora's
• No more parallel worlds
• No paying to advance in the game like Koko the monkey in dark world in Alttp
• No time limits to beat the game
• No annoying sound effect like Midna's laugh in the wii-mote. Just about drove me freaking insane