I just got it last night. I haven't played too much of it, but I love what I've seen so far. Lots of chin scratching moments.It also seems to be far more story driven than the past few. I'm used to only running into a cutscene once every hour or so, but they seem to be popping up all over the place in this game.
The only bad thing I've noticed so far is that it's starting out kind of slow. I'm happily absorbing everything like a sponge, but a person that's not really a silent hill fan might lose patience and quit playing early...