Silent Hill: Downpour is the official title for the new Vatra/Konami Silent Hill title for PS3 and Xbox 360. Text from the scans was hard to read but here's some info from what I could make out:

-demo takes place in the outskirts of SH
-the town is so large that you can use a subway system to travel between focal points
-sidequests
-avoid fights when possible, better to deliver incapacitating blows and run away (so good!)
-boss fights with quicktime events (not so good)
-water plays a huge part in the game, bizarre water effects like what looks like an upside down river flowing across a ceiling is described
-prominent locations in the older installments like schools and hospitals will not return
-the southeastern part of Silent Hill that you see on the maps in the older games but never go to is the area that will be explored in Downpour
-no weapon inventory, weapons weaken and break
-there will be puzzle difficulty options