I too will be getting Zelda, however I did think about getting Red Steel or COD 3 but I think I will stick with just the one game (plus you get Wii Sports).
Reason for not getting Red Steel - Sounds like a good game but has vast room for improvement. Might hold out till Red Steel 2 is released.
Reason for not getting COD 3 - Currently lacks WiFi Multiplayer (someone said this might be added??) and also sounds like a short game (may pick up when it's cheaper).