The visuals of Wind Waker are very nice, they're beautiful in fact. But I think if Twilight Princess or Majora's Mask got the HD treatment they'd be as equally impressive if not more so for me as I prefer that visual style and I think they're better games.
I don't know if this endeavor was really necessary as Wind Waker was perfectly fine to me and the time and resources should have been put to better use, namely into the next Zelda. We'll see if Nintendo will be rewarded for their efforts. It won't bomb by any means but at the same time I don't think it'll set the world on fire. I kind of feel like this is Nintendo trying to convince people second time around that Wind Waker was a great game and to be more accepting of the visuals.