I think it could work if it was made really arthouse but with pure action and short traveling montages, silent movie would also work with temple dialogue showing up as text like a prologue the whole way through. (Then again Ive only finished Ico and havent beaten the second colossus so what would i know)

Then again just because it could be good doesnt mean they wont screw it up.

Im being a bit hypocritical since I didnt like James Cameron's avatar for being unoriginal story and all visuals but hopefully theres a difference between high quality visuals and highly creative visuals.