HA! I knew waking up at 5:45 this morning would totally pay off! >:D
Did you ever think Tecmo Koei's Dynasty Warriors and our beloved Zelda would come together and make a sweet, sweet baby? If you did, props. If you didn't, welcome to the entire population of the universe. I so totally did NOT see this coming, but I'm definitely glad it's a thing that's happening. Iwata stressed that this isn't the next true installment in the Legend of Zelda series, so think of Hyrule Warriors (a working name, bee-tee-dubs) as a fun spin-off to whet our palette why we pray to the Zelda Gods every night for a next-gen experience.
Hopefully we'll hear some more information about Hyrule Warriors soon (AND THE CONFIRMATION OF CO-OP) but at least we can rest easy knowing we'll hear more at E3. Which is, uh, still six months away.