I personally do not want to see VA. Zelda has been a very good example to the world that games do NOT need VA to be fun, good, memorable and successful.
Take the $ they would need to put into full VA and focus it into game mechanics, story, dungeon designs and music.
The lack of voice acting has been complained about in reviews since Twilight princess in 06. They got away with it back then but now that cut scenes are even more high quality, such as in Skyward Sword and especially Hyrule Warriors. Having characters not speak whilst garbling like some kind of fish accompanied by the annoying tapping sound of text popping up in a box only draws even more attention to the fact that characters aren't actually speaking. It takes away from the immersion and looks dumb and cheap to those who aren't already fans of the series, even existing fans are coming to realise that its not the best way of doing things and that voice acting is the way forward.
Zelda usually prides itself on storytelling and immersion is a big part of that. I think voice acting will add to that and make the series better for this entry and for the future.
Nintendo are still very rich from their past profits and are getting good money from their handheld market. They don't need to cut corners by not including a particular thing and I can guarantee that if the rumour is true and voice acting is inn Zelda U, throwing extra money at other areas would not help as all efforts will have already been put into those things. Good music, gameplay and voice acting can all be implemented and not to the detriment of each other. Nothing needs to be left out.