Silent Hill: Book of Memories' release date was originally set for March and then May. Konami announced that it had been delayed again last month and now it has been revealed that they are targeting an October 2012 release date.
According to Game Informer, Konami said it does not have an exact release date yet in October and the delay was due to both "timing and development." We'll have more details as soon as they are released and hope to have more information during this year's E3 Expo.
Description: Book of Memories is an all-new game in the Silent Hill series, with a unique premise and storyline. The story begins with a strange book that is received, inside that book is your entire life story to this point,everything that’s ever happened to you; all of your memories. You discover that by altering what’s written… you can actually change the past. You can write your own ideal history.
A departure for the series, with a focus on co-operative multiplayer action rather than traditional Psychological Horror. Players can work together as they explore several different Otherworlds, solving puzzles and defeating creatures to advance through the Nightmares and uncover the truth behind the Book of Memories. Scare rooms, limited resources, and dark atmosphere all return—but in a gameplay package specifically designed to take advantage of the PlayStation®Vita handheld entertainment system.
Book of Memories is a macabre celebration of the best that Silent Hill has to offer. Players will encounter items and Creatures culled from over a decade of Silent Hill lore, including a special someone who walks softly and carries a gigantic knife.
The very first Multiplayer Silent Hill - survive horrific nightmare worlds with your friends in a terrifying co-op experience.
Create and customize your own main character.
Features a legion of classic creatures from throughout Silent Hill's history.
Daniel Licht (Dexter, Silent Hill: Downpour) returns to compose an all-new soundtrack.
Exclusive to PlayStation®Vita System
Here's an early gameplay video to give you an idea of what they were working on in late 2011: