Keep in mind that when playing Silent Hill on the PS3 via backwards compatibility you will get a high pitched sound every so often when you fire your gun. It can be alleviated at times by "loading" into a room but other times you have to actually reboot the game to stop it from happening. It's one of the few titles that has issues via the hardware BC on the PS3. It's too bad too since it looks rather nice when played on the PS3 too.
Consider me blown away along with Dean. The second game is the gold standard by which the series is held by many many fans of the series. I know many folks who DO have a preference for the first game (which I understand completely mind) but I can't see how any fan of Silent Hill can actually /hate/ Silent Hill 2. I still consider its story, soundtrack, and art design one of the best in gaming.