The game and all it's mechanics looks really good. My only issue is with the graphics. Remember Wind Waker? It's basically like they took the art style of that but applied it to real Link rather than Toon link. Other than that, the game looks great.
I've read a lot of commentary that says Miyamoto is trying to take the game to its roots AKA his childhood experiences in the great outdoors. I think it will be a very good game and I will watch gameplay of it, but I don't play console anymore.