...Your idea of 'improved' is very vague. I probably wouldn't buy it outright, especially not on the next Playstation considering the port for the PS3 was terrible. Might give it a try, but it's something that needn't be done. I'd rather Climax come up with a new title than try and fix another.
Oh, and you seem to be in the wrong section. The Homecoming section is over yonder.
If we imagine that silent hill 3 never happend. When we can make Homecoming based on "harry die" ending from the first silent hill. The more intresting is that sheperds glen do not exist in SH 3 at all !!! And alex didn't exist and future is far far darker and insane because of power the cult got . Town called Shepard, mari maria sur-name. Again in homecoming universe based on "rebirth" ending, mari killed james and become big treat to the world, but not to the cult. You can even show it at the start of homecoming, like in saw movies "WTF is happen to dr. gordon ? ". Show it ! Alex discover that if harry survived the whole sheperds glen would never existed. And Alex would never existed ! Need it ! The otherworld is out of control ! In homecoming SILENT HILL 4 Bad ending is real !!! Walter and mary destroy the world together. Meanwhile sheperds glen becoming big twisted town for pure dark evil with alex around. Alex even can come back from the war against monsters because everything in homecoming is out of control. It's like if UFO ending is not canon ? What about THIS TWISTED INSANE EVIL VERSION folks ?