Oh, wow. Ironic that I posted an article about this sort of thing at Zelda World a week ago.
http://zelda-world.net/2011/04/what-the-pale-figure-cant-be/
(My beliefs, straight from the article):
We know that the “dark interlopers” were part of a war to find the Sacred Realm. Some people would say, “Well, that’s the war in Ocarina of Time’s back-story. The “’Unifying War.’” I say otherwise. Yes, the “Unifying War” was over gaining access to the Sacred Realm and the power held within it, just like the war mentioned by Lanayru in Twilight Princess. However, the Temple of Time had already been constructed before the “Unifying War.” Proof? Well, there’s a story told in Ocarina of Time that tells of a boy who’s father was killed in the raging war and who’s mother was mortally wounded. This boy’s mother took him to the Great Deku Tree Kokiri Forest out of desperation. We know this child to be the Link of Ocarina of Time. Unless
that Link lived a
very long time and stayed a baby during it, the “Unifying War”
has to be right before the events of Ocarina of Time.
Now, more about the Temple of Time itself. In the Chamber of Sages, Rauru said, “We ancient Sages built the Temple of Time…”
Ancient Sages. That means that the Temple of Time was built in ancient times, long before Ocarina of Time. Plus, we know that in the war mentioned in Twilight Princess, the Sacred Realm was open to where it could be accessed by anyone. The Temple of Time was built as a defense for the Sacred Realm with the Master Sword as the final barrier, as well as the key to opening the Sacred Realm itself. All that said, the “Unifying War” and the war in Twilight Princess’s back-story can’t be one-in-the-same. This leaves a perfect spot for the “dark interlopers” to come about in Skyward Sword, as it’s set before long Ocarina of Time. And with the “army of evil” in the land below Skyloft along with the fact that Skyloft was once part of Hyrule, the war mentioned in Twilight Princess has a strong possibility of being in Skyward Sword’s back-story, if not still going on in-game. (Skyloft was separated from Hyrule, or maybe what will
become Hyrule, due to the “army of Evil, which could exist due to the “dark interlopers.”) The “dark interlopers” being sealed at the end of the game would work perfectly, as well. Saying all that, what better time for the Temple of Time to be constructed than after the events of Skyward Sword? And wouldn’t it make sense for the Skyward Sword to become the Master Sword at that point? While that’s just speculation, it’s a good prediction. This is why I say that the “pale figure” is a “dark interloper,” if not their leader. (Now, yes, I did say that I think it’s equally possible for the “pale figure” to be something entirely new, but that’s only because we don’t know what or who he is yet). All that said, there’s really no possibility for this “pale figure” to be anything but a “dark interloper” or something entirely new.