There’s conjecture among Joystiq readers that the female figure in the Zelda art released earlier today. The folks at 4 color rebellion seem to think the same and offer this evidence.
To a Western audience, the thought of a living sword likely sounds a bit odd. But several Eastern myths tell stories of the spirits of warriors inhabiting legendary swords. (Chrono Trigger players will remember the Masamune, a legendary sword inhabited by the spirits of two powerful creatures with the ability to merge.) It’s less common to find a story where a female spirit inhabits a sword, but given the Zelda series’ affinity for androgynous characters, it’s not surprising.
With Nintendo revealing Metroid: Other M as a “new, edgier” take on the Metroid universe, it’s reasonable to think Nintendo may be ready to take a risk and give the world a more mature (though very unlikely M-rated) Zelda title.