What may be more important other than the shield icon....
Is the positioning of the hearts right next to the shield icon. As is, they are too close to one another to allow for a second row of hearts to be shown like they would be traditionally shown.
The same could be said about the magic bar in OoT, MM and TWW, but that was obviously not the case.
After watching more videos of this, I'm feeling much more positive about this game than before. Maybe it wont suck after all.