If third party devs worked with Ninty for a new Zelda...

Who would you want them to work with? Capcom had a few times on the GBC and GBA. And Namco (before Namco Bandai) did well with adding Link as a guest star in Soul Calibur II. Here's who I'd want/don't want and why:

Capcom?: Yes. They did well with the portable Zelda's, so why not?

Namco Bandai?: No. Despite them doing well with Link on SCII, their third party support with Nintendo's paltforms is garbage. Especially with the Wii.

Sega?: Yes. They never did a Zelda, but they did do well with working with Nintendo on F-Zero GX. And they have solid Wii support in terms of publishment.

I'll see if I can do a poll later, since I did one last night on another forum.

The only third party devs I would trust to properlly make a Zelda game include:

Capcom - They already worked on some Zeldas and did a fine job with them.

Konami - They have a great track record and are one of the third partys that I respect the most.

HAL Laboratories - They made Smash bros, that's a good enough track record for me.

Intelligent System - Between Advance Wars, Super Metroid, Paper Mario series, Fire Emblem series, Mario Kart super circuit. these guys know their stuff, though they are technically second party.

I would prefer Nintendo just make the next Console Zelda, since they have been great with all the games so far. If someone helped though it would be Capcom because like you said, they have all ready made good Zelda games, I am sure they would make a great console game.

 No Sega though. Their games are hits and misses at this time so I would not want them working on a franchise like Zelda. Yeah with Nintendo with them it would be hard for them to screw it up but then their last game Sonic And The Black Knight sucked bad according to IGN/Gamespot.