I don't get why this trailer has generated so much negativity over the graphics, at worst they aren't any worse than what we had already seen from the game, and I think it's looking to be pretty good.
You know, I can sort of see where a lot of people can complain about the graphics. Take Wind Waker for example. That was (arguably) the first Zelda game that really turned Zelda into a kid's game. Gone were the days that you were fighting dragons that looked like they were spawned from depths of hell (WELL, they just look kind of silly now, but BACK THEN, that was some scary crap...) Instead, we got the "Hurricane spin" where cutesy little Link gets dizzy, and infinite sailing over cartoon oceans. Everything is quite bright and happy without the gravity of the situation crushing anything... A far cry from, say, the art direction of Majora's Mask, which to this day leaves me feeling a little uneasy.
That's not to say that WW graphics had nothing good about them. A certain amount of vibrancy made the world seem more fantastical than TP's color scheme, which had me thinking about the game as a medieval tale rather than a "mystical journey". Both are viable options, both accomplish different things. One showcases the fantasy realm, the other captures the intensity of the story.
Skyward Sword seems like it has captured a good portion of each. My only worry is what they are going to do with some of the characters, which may tip the scales. If I have to see Tingle one more time... the store clerk is going to die. Other people may die too. I'm just gonna go with it.