In a recent IGN article:
"Speaking to Wired, legendary game creator Shigeru Miyamoto says he likes to keep his Mario games light on story and focus on gameplay, while leaving storytelling to the Zelda franchise. "
Here's a link to the article:
http://wii.ign.com/articles/994/994699p1.html
They're giving Metroid other M a story, so why not Zelda?