SH stands for Standard not HighDef
I've played the game only for 2 hours now. I can't review the story yet cause I havent played enough but all I can say is the storyline so far is great and it is really immersive. What really helps that is the great sound track and sound FX. If you have a surround sound at home and wanna make jumps on your couch every second well get this one it really scared the hell outta me (wheelchair falling in the stairs).
Graphics:(720p not 1080p AGAIN GRRR PS3 DO SOMETHING!)
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As far as the graphic goes, i'M disappointed. Since the next gen consoles and especially Playstation 3 is rumored to be the most powerful system out there, it doesnt feel like it. The grainess film effect is great if you are playing on a standard TV but in HD (my tv is 40inches) the grain is more like a low rez grain texture patch they scaled to fit the screen. It has nothing to compare to the really gr8 grain effect of SH2. There's also lag at some spot in the game. There's dogs you got to fight in a graveyard at some point and if I could run fraps on my PS3 I swear it would have shown ~ 10 FPS. The dog rendering is awful. Way too much bump mapping and HDR on them for nothing. Hate the dogs for everything they are in the game.
All the textures are low rez and there's no Antialiasing to smooth the edges of such a mess. If I remember well, Silent Hill 3 on PS2 looked as gr8 if not even better than this one. Only times that the game looks actually next gen is in the scenematic sequeces but it has nothing to do with MGS4. I would give the graphics a 7/10. Nothing exciting. ( I wonder if the xbox 360 is not better? Reference: CoD4, Battlefield BC, GTA4 are some of the games that looks better on xbox for unknown reasons.
Sound & music:
Delightful. The sounds and environnement effects are really well done in 5.1 if you are using one. Never experienced a game so far that was so immersive from the start and it's all due to the sound and music. Nothing to complain about that. I give a 10/10
Controls and camera angles:
So far so good. The combat system is great and I really like the fact you can avoid enemy attacks by dodging them. Camera system is great providing really interresting angles when you enter a door, talk to a NPC and such. You know the drill, it's a survival horror game :P 8.5/10 for this one.
Since I played SH2, SH3 not the 1st one :(, I will definitelly recommend you this game if you are not going all out for the eye candy stuff like I usually do. This is a great game to look for.
Edit*: I bought it on the 360 and the graphix are waaaayyy better and it's 1080p!!! Colors are richer, textures are gr8ter, all the lighting effect / shaders really pwns in this version. Get it on Xbox!!!