So, I finally managed to download a full, hi-res version of the video and listen to it with the sound up high. I will admit it didn't have QUITE the same effect on me as the first Zelda GC video, but then very little does. But it does look awesome - and I can see a lot of Zelda history pouring out in gorgeously rendered loveliness.
The Ghoma chase looks particularly impressive, the horse/pigback riding looks good, the fighting looks standard (re: good) and collecting cats in the forest looks.... well... made me laugh anyway.
I am jealous of all E3-goers who will get a chance to play this. But then I'd be jealous of you anyway. Might as well get used to it
Of course it could be the story of Link finding an all-new Hyrule. The hints, it seems, misguided me somewhat though... apparently it follows from TWW chronologically, but isn't necessarily the same Link or anything.