1. Skyward Sword is complete, but still needs debugging/testing.
2. There will be a demo at E3 with three different aspects of the game explored: Flying combat, overworld + sky exploration, desert dungeon.
3. Skyward Sword girl's name is "Dorella."
4. Magician from GDC trailer's name is "Nephiburoo," he'll be a part of a group of evil sorcerers who wish to obtain the Triforce.
5. Ganondorf is in the game briefly as a child. Isn't too important to the story.
6. Zelda has a new design, similar to an Egyptian princess with brown hair. She's still recognizable however.
7. Full orchestrated soundtrack by the person responsible for Super Mario Galaxy's soundtrack. (This one is actually true, but I do wonder if the poster only put this one in to make the rumors more believable.)
8. Two overworlds: Skyloft and Hyrule. Contrast is similar to Heaven and Hell.
9. Ten minute live-action prologue that'll be posted on the net a couple of months before release. (Zelda Williams Secret Shoot? Zelda is rumored to have brown hair and take on an Egyptian princess aesthetic. It COULD fit.)
10. After you complete the game, the game goes into a storyless, neverending epilogue. Every dungeon in the game gets another dungeon inside of it utilizing everything you've obtained in the game with new bosses. New areas on the overworld are unlocked in places you wouldn't expect. Similar to the original Zelda.
11. Game will feature horse riding and boat riding. Not as expansive as seen in Twilight Princess and Wind Waker, however, but a boat will be required to complete some dungeons.
12. Coming November 1st, 2011.