Nintendo recently updated its Japanese website with the official title for The Legend of Zelda (GC). Due out on Friday December 13, the game is officially named “Zelda no Densetsu: Kaze no Takuto.”
The translation of the title can be interpreted many ways including: The Legend of Zelda: Baton of Wind; The Legend of Zelda: Staff of Wind; and The Legend of Zelda: Wand of Wind. Nevertheless, the title does seem to highlight Aonuma's comments when he was interviewed recently by Famitsu - wind will play an important role in the game.
We'll have more details as they develop.