Yup, this is a concept art from the new in-production Zelda Game for the Wii. For those of you whom were amazed by Twilight Princess, all I have to say, is that TP was made for the Gamecube and ported to the Wii...this is 100% Wii baby! 
I personally predict a late Summer 2010 Release ^_o

I personally predict a late Summer 2010 Release ^_o

Code:
Source: http://kotaku.com/5279554/first-look-at-new-zelda-games-concept-art
My Rabbid Fan-Boy Theories said:Well, the second I saw Link with a shield but no Master Sword it took me half a second to theoroize exactly what the Source Page suggested, that the girl in the picture that Link is defending IS the incarnation of the Master Sword. Its pretty damn obvious, due to the Jewel on her chest and the motive of her 'corset'.
![]()
Afterall, you can see the gold lines that are prominant on the blade and her cloak is almost a perfect likeness to the Blades 'wings' either side of the hilt.
The only odd thing I've noticed is the Jewel is Blue on the girl, whereas on the Blade it is (and always has been) Yellow. However, the Master Swords jewel in Wind Waker was vacant of a yellow colour and glow because it had lost its power. - Perhaps this is the reason.
Awesome.