Oh my god. Best. Game. Ever.
I've been amazed by the deft grace of the game. It manages to give you sense of urgency and forward motion, but at the same time, provides you with a fairly large amount of exploration and discovery to participate in. The sailing in the game seems like the perfect metaphor for the game itself: you can always move forward easily in the direction that the plot is taking you, but you can also deflect some of that energy and explore all of the other nooks and crannies that are presented to you.
I've also been impressed with the puzzle design. So far, the puzzles have all felt clever and ingenious, but they've also all seemed like they've had natural and organic solutions. Every time I solve a puzzle, I feel like I've accomplished something, but I've never felt deeply frustrated when a solution eluded me. Again, it helps that they've woven clues into the game itself: there have been a few times when I've noticed Link's eyes darting up at something I hadn't noticed before, and sure enough, that was the answer to the riddle.
The art is also incredible. I found the animation-style to be a little off-putting at first, but it soon felt extremely natural to me. I was skulking through the first dungeon, watching guard beasts strut around and watching Link as he edged across a chasm, and I found myself charmed. And I'm re-charmed, every time Link hauls a treasure out of the ocean and his face changes from determination to wonder.