Well... Sorta

(sorry I couldn't resist)
http://cube.ign.com/articles/588/588913p1.html
They confirm that the new NGC Zelda game takes place chronologically after Wind Waker... That combined with the ending that sorta set up for a sequel makes me quite happy...
WW's ending made it seem like the next Zelda game would involve exploring a whole new world in the search for a "New Hyrule"...
So hopefully by "Takes place chronologically after Wind Waker", they don't mean 300 years after...
Yeah...