In a video update, producer Eiji Aonuma described the reasons for the delay, and it's hard to be mad. "As I have watched our development progress, I have come to think that rather than work with meeting a specific schedule as our main objective, and releasing a game that reflects only what we can create within that scheduled time, I feel strongly that our focus should be to bring all these ideas to life in a way that will make Zelda on Wii U the best game it can possibly be"
Darn. of course that means ZU Will be twice as awesome.
I'm hoping for procedurally-generated Forbidden Forest (with stretch goal of dynamically changing everytime you turn around) and more Wii games in the VC.