Opinions are split on the merit of taking Silent Hill in a top-down, multiplayer direction, but don't let that stop you from checking out the E3 2012 trailer for Silent Hill: Book of Memories.
As the opening voice-over explains, this "weird book" contains "literally every memory" from the player's life up to this point. These memories can be rewritten, shaping the past in an effort to make things better.
Book of Memories is developed by WayForward Technologies, makers of Contra 4, Shantae, Aliens: Infestation, A Boy and His Blob, Mighty Flip Champs, and more. Though previously delayed, the four-player Silent Hill Vita game is due out this fall.