As 1UP notes, the Vatra lists its focus as one on "high-end action titles for the Xbox 360, PlayStation 3, and PC," which is in-line with the PS3 and/or Xbox 360 graphics of the teaser shown to journalists last week.
Popular speculation is for a Silent Hill 2 re-telling, much in the way Silent Hill: Shattered Memories (Wii) was a "re-imagining" of the original Silent Hill.
As previously stated, we should know more at E3 2010.
If this is another retelling i'm never buying a SH game again. Shattered memories was a joke. Nobody want's re-imaginings, we want new imaginings.