Are you still worried about Silent Hill: Homecoming being in the hands of a Western developer instead of Team Silent? Konami producer William Oertel put it pretty well: "Much of it is very deliberate. You don't have to go into every single detail. You leave it to the fans to decipher...In a sense, the whole game is like a puzzle." This is part of the ideology of the development staff -- to keep the game more on the psychological level like the legendary Silent Hill 2 and less on the literal side, like the first and third installments. We support this move.
A preview of the game doesn't go into the storyline very much, since they claim it is quite on-track with previous titles and wish to refrain from spoiling anything. However, they do comment on the new battle system and how it, actually, works in favor of the Silent Hill style of play. Every weapon as a finishing move, dodging is challenging ... combat is, essentially, more difficult. Enemies detect sound and light pretty viciously now -- they reacted before, but now it's clear when you knock over any of the surrounding stuff, the enemy comes running.
Conversations branch, too. During some of the games discussions between characters, you can choose from a couple of different answers that will yield different reactions or get you a little more background information. It doesn't sound overly complex, but it'll be interesting to see if these branches actually influence the type of ending you get. All in all, it's sounding pretty well done.
Silent Hill Homecoming Screenshots
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Solid to the core