Meh... I've personally never been thrilled with the Celda look and while a good game in it's own right, I'm sad to say that The Wind Waker is by far my least favorite of the canonical Legend of Zelda entries (then again I've never played the CD-i titles, but I'll just take the word of unfortunate souls who had the misfortune that did...), and it isn't even due to the artistic direction, but rather because it was severely lacking in dungeons, had some overly childish presentation elements, and at times felt very tedious to play - and when a Legend of Zelda game becomes too much of a chore, you know there's a problem. Now I know my personally opinion has no bearing on this character's chances, but considering that many other longtime fans of the series had similar reception of the game - almost going so far as to split the Zelda community - this is certainly something the development team may want to bear in mind. But more important than the issue of this incarnation of Link is the fact that it would be a variation of an already existing character in the game. Sure this was done in Melee, but it had a generally poor reception, so I doubt that Sakurai and Co. are going to repeat the mistake - at least to the extent as in the previous entry... I can see WW Link as an alternate "outfit", but as a separate character, I'd say he has a 25% chance.
I nominate Mike Jones 5x.