Surrounding the initial excitement for this newly released artwork based on the new title in 'The Legend of Zelda' series, many have been speculating over a number of interesting features within the image.
Firstly is the addition of a new character, which is highly resemblant of the 'Fairy Queen' from Wind Waker. Whether there is any real connection between the two has yet to be announced, although their similar appearance is a bit much to be considered a coincidence.
Then there's the noticeable absence of the Master Sword, or any other sword for that matter. Link is also gripping his shield with his left hand; usually used for sword-fighting in previous games. This could imply that Link has taken a back-seat role for this particular title, although a much more interesting theory points to the fairy-like creature being an organic equivalent of the Master Sword, containing numerous aesthetic elements as well as being situated back to back with Link where he would typically sheath his sword.
Even this wouldn't explain Link's use of his right hand, but it's an interesting assumption nonetheless.
Full image: http://img30.imageshack.us/img30/5430/fullzelda.jpg
Full comparison image: http://img.photobucket.com/albums/v418/SSmstzo/1244170672695.jpg (Credit to SSmstzo for the upload!)
Stay tuned to Gamezplay.org for more information on the topic!