The following comes from a Kotaku interview with Eiji Aonuma...

- set at least a generation ahead of ALttP

"It’s not a direct sequel in the sense that it’s the same Link and Zelda. The world is the same and it might be a different generation of Link and Zelda. It’s the same world. It’s the same space. But in the same way that, over time, the topography can change, there will be some changes. The land will be affected a little bit.

The dungeons, for the most part, will be in the same place, but inside might change. Now that I say that out loud, it sounds a little strange, but we’re making decisions based on what’s best for gameplay. We’re picking and choosing what we change and what we don’t, so players can expect some changes."

- Aonuma playfully shrugged when asked if the dark world would be returning