I think they'd be able to do it right, too.Hmm. Obviously Link shouldn't be talking.
But it did seem awkward to me to watch everyone in Twilight Princess move their mouths so accurately but no sound come out.
I think its a mistake to assume the voice acting will be bad today. This isn't the 90s anymore, many games today are being released with realistic, skilled voice acting. Look at PC games like Bioshock, Half-life 2 or the Elder Scrolls.
If Nintendo hired a professional VA casting agent, they could give Hyrule a great set of voices. I think that would work to the benefit of the next Zelda.
But my problem is not that I think it'll be bad voice acting, I just don't think voice acting would fit Zelda. I wouldn't want it even if they got the best voices ever and they totally fit the characters.