The facts that prevent us jumping to conclusions are Vatra's portfolio. While the studio is new, the talent isn't, having worked on titles like gangster action game Mafia and third-person tactical shooter Hidden & Dangerous.
When Kotaku reached out to Konami and Vatra to see if that FPS speculation was correct, both companies told Kotaku pretty much the same thing: "Wait for E3." No confirmation or denial, unfortunately. Konami reps walked us through the teaser shown at Konami's recent Gamers Night, which was apparently not shown from a first-person perspective, and ended with the line "...the silence ends at E3." The publisher had no official statement on the matter, we were told.
If the next Silent Hill for the Xbox 360, PlayStation 3 and PC does go "FPS," it wouldn't be unheard of for the series, which featured first-person sequences in Silent Hill 4: The Room—sans shooting, though—and first-person light gun shooting action in Silent Hill: The Arcade. The latter, by the way, is actually quite fun.
Clearly, Konami is comfortable experimenting with the series, as shown by the more action heavy Silent Hill: Homecoming and the nearly combat free Silent Hill: Shattered Memories.
But as a first-person shooter? Is it just crazy enough to work? Or is the "FPSing" of beloved franchises a step in the wrong direction?