At Nintendo’s Third Quarter Financial Results Briefing, new details regarding various games, equipment and software updates were presented. One of these, of course, was related to Skyward Sword.  Here is what the Japanese President of Nintendo had to say:

Shigeru Miyamoto of Nintendo said that he had a strong feeling that the new play control realized by Wii MotionPlus, which is now integrated into our Wii Remote as Wii Remote Plus, could significantly expand the comfort of the game play, especially when used in games like “The Legend of Zelda.”  His team is now entering into the final completion stage of Skyward Sword.
Talking about The Legend of Zelda franchise, what people called a masterpiece in the days of Nintendo 64, “The Legend of Zelda: Ocarina of Time” has been in the process of being remade for Nintendo 3DS, and this Nintendo 3DS version is expected to hit the market earlier.

So there you have it. Skyward Sword will be released after Ocarina of Time 3DS which is after E3. With this year being The Legend of Zelda franchise’s 25th anniversary, I speculate that Skyward Sword will be released this fall.

Source: Nintendo’s Third Quarter Financial Results Briefing