Shigeru Miyamoto's E3 appearance with a full orchestra and the upcoming Zelda concert series indicated a heavy emphasis on the series' iconic music. Nintendo is following through in the upcoming game, The Legend of Zelda: Skyward Sword, by making the soundtrack fully orchestrated. In your mind's eye, you can imagine Miyamoto waving a conductor's baton while you play.
A Nintendo of America representative confirmed the soundtrack decision to Joystiq, after Miyamoto dropped a hint at the E3 developer roundtable. The Nintendo executive pointed out that Super Mario Galaxy 2 had an orchestrated soundtrack, and said they simply had to "try to match that with Zelda."
If you want to hear some of those Zelda tunes while you're not playing the game, first-run copies come with an orchestral soundtrack CD.