If Miyamoto came out tomorrow and said that there was no timeline would you be upset or would you be glad?
Considering the Zelda timeline, as complicated as it can be discussing it, is one thing that keeps a decent potion of the hardcore Zelda fans interested, I have no reason to think why Nintendo would ever do this.
I also think that Nintendo has somewhat hinted to this in the past. I believe they have said that they do not create games necessarily to progress the storyline as we'd like. Instead, they just create individual and unique games. Of course, they always through some connections that give is rough placement, but I don't think they ever intended for their to be a connected, full timeline.
I also think that there is too much material information available for them to say no timeline. Regardless if there is a 'real' timeline or not, it isn't going to stop Zelda fans from piecing the games togethor. There is clear evidence that certain games fit after others games. For example, regardless if there is an official timeline or not, I don't think you can find a qualfied person that would say Twilight Princess is AFTER Ocarina of Time. There is so much evidence to say that if you had to list these two games in chronological order, Twilight Princess would surely be second.
So ya, Nintendo's stance on the timeline has been blurry at best, sometimes inconsistant, etc... Some people believe in a linear timeline (Not a split timeline), and even after Eiji 'Confirmed' a split timeline. So regardless of what Nintendo says, us fans will continue to piece togethor the evidence and use our creative minds.