Yeah, handheld = Toon. Console = realistic / risk-taking with introducing new styles.
I'm thinking a very stylized (for lack of a better word) physique to the design of characters - not realistic, but not cartoonish either. Sort of where OoT was heading, but far more emphasized to truly capture the aspects of the characters. For instance, King Zora from OoT was a giant, bloated Zora, not just a decorated, old-man Zora. He's a very memorable character because he, himself, was designed incredibly uniquely. I think this must be kept in mind when designing the individual characters, but as for the overall appearance?
I think designing it less texturally, and more fluidly would be a great move, making the 3D models appear to be "sculpted", with a sort of mix between pseudo-realistic textures, paint, clay, and ink, but not so the game is overshadowed by this art direction. Imagine it this way. Say you set up your "foundation materials". Perhaps they are:
- Paint
- Clay/Stone
- Ink
- Metal/Rust
- Realistically rendered textures
You craft this game around those elements entirely. Say every object, character, and region is built around these five elements. Keep in mind, this is all hypothetical, and I'm not necessarily saying it's the best idea, but for the sake of sparking some innovation, let's carry on. So each 3D model is composed of these five elements. Depending on how the developers want the model to feel in relation to all around it, and how you interact with it, the "levels" of each of the five elements would alter. Say you are designing a moss-covered rock. It would appear to be made of clay (for the rock), some paint (for the moss), and some undertone textures. Remember, the world would not act like these materials necessarily would, but for aesthetic purposes, it could help to shape the game in a very artistic and relative fashion (as it does not feel like we're just interacting with this totally 3D world, but rather a world that looks like we could have hand-crafted it). It would be a smart move to really draw in players of all types and ages. Think about Psychonauts. It had a very keen style (the stage based in Spain was the most beautiful part of that game, and of the history of gaming, as it was designed with a semi-Nightmare Before Christmas Oogey Boogey's lair-type "neon-noir" effect).
Anyways, again, this is not how I necessarily want Zelda to look, but it's simply an idea to spark some thoughts.