The 165th issue of Game Informer has been released and two notable things about The Legend of Zelda series has come from it. The first one is that The Legend of Zelda: Phantom Hourglass has been delayed to October, 2007. There have been rumours this is because the game is getting a massive reworking, but nothing of that nature has been 100% confirmed yet, so just remember the reworking is a rumour, but the October 2007 date is confirmed.
More Inside The second bit of information is that another Zelda game has been in development for the Wii for almost a year. Remember, this is only a rumour at the moment, but if this is indeed true, it means that a second Zelda game will grace the Wii sooner than later, which in my opinion, can only be a good thing.
Source: The Hylia
