If the save statues are the only way to save, I think Nintendo may have made a poor choice in that respect. Like a lot of people have said, there is the possibility of having gotten so much work done but not being relatively close to an owl statue. What if you had to get off right quick because a parent was mad? Or, you accidentally were playing for too long and school decided to roll on by? Losing all of that work is a pain in the butt, and Majora's Mask stands as proof. Who really wants to redo all of that hard work? With SS being shown off as 50-100 hours, I would hate to lose 5 days worth of that game [though that is unrealistic for someone to have played it for 5 days straight unless they happen to be an insomniac to some degree].
Now, there is the speed factor to take into account as well. Instead of rolling, we get the dashing and stamina features so as to make travel ever so slightly easier. The bird seems particularly fast, so I see no issues in that. There may even be a quick warp to Skyloft; all we must do is wait. So, the game appears to have really fast means of travel so getting to and from places may not be as much of a hassle as we are assuming it could be. Still, I like my ability to save anywhere and everywhere within the game, so if there is no pause menu with that save button, I will be mad at Nintendo for that choice but I can respect it as most RPGs don't allow saving everywhere.