As I've said before, 'P.T' really looks incredible. Even without a PS4 yet and watching various walkthroughs on YouTube, it clearly looks 'next gen' (I hate that phrase). About the second game in close to a year where I can truthfully say I've seen any notable difference.
As far as the game goes, if that's a snippet of what's in the pipeline for the next Silent Hill game, then certainly count me in. I'm a huge fan of the series and have completed all the games (the first four several times over). It has that unique Silent Hill 'feel' about it, where the horrors are predominantly physiological with only a few tasteful jumpscares. Few horror games, certainly over the last 8/10 years, have been able to achieve that balance successfully. As I said in another thread on this, the 'PT' teaser did painfully impress me. This certainly has a lot of potential and it's something I fully intend to follow developments on.
I highly doubt the game would simply revolve around the house in the demo. Silent Hill 4 (The Room), revolved around an individual apartment but there was a way to 'escape' it via a hole in the bathroom that lead to other areas. Admittedly, that did come in for some criticism at the time but I thought it was a neat concept that was executed very well. It seems to be growing more fans as the years have gone by, too. As we know nothing more about the game than simply the 'PT' demo, I don't think any of us can speculate much further. Given the trailer shows an in-depth exterior footage, it would be a shame not to actually use it as part of the environment. It would be a heck of an omission in my opinion. What I would like to see is that 'L' shaped corridor demo maybe featuring as part of a puzzle – maybe with one or two more clues or perhaps an alternative objective.
My biggest concern will be the story. How will this 'Walking Dead' character (sorry, forgot his name – I don't watch the show) tie into an already well established franchise? This is a potential 'banana-skin' for me. Whilst I have no objection to that character being there, what I do and will object to is if he becomes an overriding factor in what's supposed to be the world of Silent Hill. The classic 'fitting a square peg into a round hole' syndrome. There will be some very upset fans out there if it's not done correctly – myself included.
LSD: Dream Emulator is an incredible game. Ignoring the graphics (which I always do – gameplay means more to me), the depth that game has is unbelievable. It was the first true game which almost phonologically tortured those who played it…! You're best playing it completely alone and at night to get it's full effect. I have many fond memories of it.
With regards to a release date to the next Silent Hill, I think we're probably looking at something like 2016… From my understanding from what I've read, near enough nothing has been produced and the teaser was really all about what they can do - rather than what they're well underway with…