Comment: Another rumor is shut down.

I'm gonna link to Unseen64 now on an article I found there of interest:

http://www.unseen64.net/2008/07/07/zelda-2-bsx-remake-explained/

Apparently there was confusion over this SFC Zelda 2 Tech Demo screenshot, with people saying it may have been intended for the Satellaview. Needless to say, that article should explain - it was not. Rather sad, really... I am a bit of a Zelda 2 fan. Notably, the magazine scan is from 1988, and the protagonist is not the Satellaview mascot - this should've reasonably thrown some buzzers into my head about it, but I didn't want to have outright deny anything blindly.

I doubt anything came of the SFC Zelda 2. :(

An interesting note about the old "Famicom Tsushin" Magazine, though, is that it seems related to "Satellaview Tsushin".... perhaps the latter being a spinoff of the former.

More info about the magazine, now called "Famitsu", can be looked up starting here;

http://en.wikipedia.org/wiki/Famitsu