Silent Hill 2 (the XBOX version) is the only Silent Hill game in the series I've played, and I thought it was a POS. If you think running around a foggy town full of handicapped people trying to vomit on you is scary, then this is your game. Otherwise, MEH.
Fatal Frame on the other hand, is probably my favorite horror series aside from RE. Honestly, these games will scare the hell out of you. After playing the first one a few years ago, I was afraid to use a camera! Haha.