It would appear as though Link's trip to the GameCube was so enjoyable that he's planning on coming back. In a recent interview with Eiji Aonuma (the director of The Legend of Zelda: The Wind Waker), it was revealed that a sequel to the GameCube incarnation of the acclaimed series is in the works.
In creating the sequel to what many have hailed as a creative masterpiece, Aonuma mentioned that he plans to follow the same formula he did between Ocarina of Time and Majora's Mask. The new Zelda game will run on the same engine and feature the same cel shaded graphics (though a mention was made about small improvements). Despite this, Aonuma did not explicitly mention that the Wind Waker would be a new Zelda series, and that the main focus of his games are that they work well as standalones for players with no previous knowledge of the series.
Whether it is a direct Wind Waker sequel or not, Zelda in any form and on any platform is all but assured to a warm welcome with open arms among the general gaming public. Aonuma hopes to have a playable demo ready for next year's E3.