I've been thinking, what if it isn't only the mastersword that has a sentient form. What if each weapon has some kind of fairy/god form which Link must find/rescue/defeat before being able to harness their abilities?
hmmm...perhaps magic would make a big comeback in Zelda?? Perhaps it is not that we won't see the master sword but we will see several magical holy weapons? perhaps holy artifacts to defeat a great evil? you could work it well into a boss battle too...hmmm
I'm thinking Fairy of Winds (in TP's Gale Boomerang), and the part where the Fairy Queen in TWW kinda made the fire and ice arrows appear from her fairy magic.
Then consider the Fairy Queen in ALttP, who made your old shield, sword, boomerang and bow&arrows into a better version. And FSA, where pretty much every item got upgraded by the upgrade fairy.
I think there's enough evidence to support the theory that all items in the Zelda universe could be either improved or house the power of (great) fairies.
I'm very curious about the Master Sword's origin. I hope it won't be too predictable and will have much epicness to it.
Also, why would we even NEED another incarnation or form of the Master Sword? We've worked fine with it IN ITS ORIGINAL FORM in Alttp, OoT, TWW, and TP. What's the point of making the Master Sword into a woman/fairy/thing? "Oh, hey, Link, I'm a pivotal plot point that'll be accompanying you on your journey and just so I can be useful since the Zelda series just can't stop following the SIDEKICK FORMULA, I'm going to change into the Master Sword whenever you need it."
That's probably exactly what it'll be, though. And probably only in the second part of the game. I like the idea, since then when you play the other games again you can get all nostalgic and be like aww, thank you Fairy Queen for making my Master Sword so powerful.
I like sidekicks. Like Ezlo. He always had some random, pointless stuff to say, if you decided to click on his button. Otherwise he didn't invade too much. It's good to have someone who doesn't care too much, like Linebeck.