Nintendo has released a video of The Legend of Zelda: Phantom Hourglass.  This is yet another reason for me to purchase a Nintendo DS Lite (when it becomes available in Australia).

I think it's great they stuck with the visuals from Wind Waker.   This will increase the appeal for me.  I don't think they need to re-invent the look of every Zelda game.

It also appears sailing will be featured in Phantom Hourglass as it was in Wind Waker.   I personally didn't mind sailing in Wind Waker.  I found it rather therapeutic.  Having to change wind directions was a little bit of a pest.  The Phantom Hourglass video seems to suggest that piloting you boat involves simply drawing your path on the map, and wind doesn't seem to be a factor since you have paddle steamer in place of your sail boat.

I'll be curious to see how successfully the touch sensitive screen is used.  The video shows it being used for drawing a path for your boomerang to follow and activate multiple switches.  Likewise it shows drawing other lines to unlock doors in a connect-the-dots fashion.  For some neither of these tasks seem like it would be much fun.  But the ability to jot notes onto your map will be a great feature, though.