The things that I would like to see in the new Wii Zelda are:
Fire Arrows, I loved Fire Arrows in OoT but I think they should look better than they did, I never cared much for the design of them in OoT or MM, But I still liked the Idea of them, Maybe something along the lines of the Light Arrows at the end of TP. That was a cool looking arrow with the power of Light embedded in them by the Spirit's.
The Ocarina, The Ocarina was a cool item and was useful to get to places in a short amount of time, Maybe a mix between the Portal's and the Ocarina would be good. I also liked the little tunes that you had to play to use them, Mainly the songs like Belore of Fire and so on.
The Bunny Hood, The Bunny Hood was useful for getting around Termina at about twice the speed, It was good for when you did not have the song for a certain area or you had not Unlocked Epona at that moment in time. It would be useful especially if Nintendo have it planned that you either don't get portals or you get them or Epona towards the middle of the game, But unless they do like they did in TP and give you Epona straight away, There would be no need for it.
The Double Clawshot, I loved the Double Clawshot, It is my most used item in TP by far, Easy for collecting items from a distance, Pretty much used in every Temple since the one you get them in (The Lakebed Temple) and also good for stunning enemies like Dodongo's that are going down with a fight. They also were one of the coolest looking items in TP and felt the most Zelda like item out of them all barring Swords, Shields and Bow.
The final items I can think of and am going to list are the three Race Masks from MM, I loved being able to swap between each race, It would also work if you get an Ocarina in the next one, It would be great to see them make a come back as well as it would mean that the Deku's have made a comeback and that each Race will most likely have a Province of their own, Like the Deku Palace.