For many Zelda fans this is a dream coming true, for others is a reason to roll their eyes at Nintendo that continues milking from a game that is over a decade old.
But anyway, here's the thing:
A new portable is coming up, it is called 3DS. It looks very similar to the DS but it will have an analoge pad among the buttons you already know. Still it is not an upgrade it is a different console.
This is not speculation. There were a few demos there, but no trailer and certainly its name was not in the upcoming games. Still Nintendo portal released some images, that compliment the demos near the round table.
Ocarina of Time is not the N64 version relaunched, the image clearly shows a "update" in their graphics, while keeping the shape we know from the official artwork.
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Subject: Ocarina of Time - Remake for the 3DS 
