there it is; miyamoto--san had some trouble demonstrating it, but it looks awesome anyway. it's called 'the skyward sword', and for those who didn't see it the visuals are a combination of windwaker and twilight princess, with some light cel shading over an adult link. the camera remains in 3rd person, and as expected, the sword and bow controls look very similar to wii sports resort. link swings in any direction that you do, you swing with both hands to spin, and if you hold the sword up you can charge it to fire some sort of laser out of it (yes!)
there were a few new items shown including a remote control bug and a whip that you also control with the motion+, but other than the new controls there weren't any earth shattering changes in the demo. now, to wait for some people to play it...
oh yeah-- it's not coming out this year. 
VIDS:
trailer: http://www.youtube.com/watch?v=6DI054qm_xQ&feature=player...
gameplay: http://www.youtube.com/watch?v=v6osqwkAmP4

