Eiji Aonuma discusses the Zelda HD tech demo that was shown off at E3 2011 and mentions it is nothing more than a demo to show off the Nintendo Wii U and that they have no current plans for a realistic type Zelda game in the near future. He says no decisions have been made for Zelda on this new Nintendo console, but mentions when the time comes the next Zelda title could have realistic graphics. Check out the interview here.
Eiji Aonuma Talks Zelda HD,