I would love magic to be in the next game. I enjoyed messing around with the various magical items in
OoT, MM, and
TWW. I really hope that, should they go with this idea, they would add more uses for magic. You know, make it an integral part of the game.
I'd also like to see some elements of alchemy come into play. For instance, if Link collects enough Heart Berries, he can make a Red Potion out of it. But why stop there? Why not give Link the ability to extract, say, honey from a honeycomb? The honey could then be used in another potion, or sold for some extra rupees. Your ingredients could also be stored in a bag, similar to how
TWW stored miscellaneous things in the Spoils Bag.