Well, I finally started playing it last night. Seems pretty standard fare, but it's enjoyable. I can see where they borrowed elements from Shattered Memories. Nightmare scenarios often have you running for your life against some enemy that cannot be killed and must be slowed down. It's refined from the aimless fleeing that was in Shattered Memories.
No guns yet, and I'm done the first area. There was only like 5 enemies and I had to beat them to death with a wrench or rake. So at least this game, so far, is not really a run 'n' gun like I feared.
As for characters, Murphy seems interesting and emotive. He sounds genuinely freaked out, and the background noises are top-notch.
There's some choppiness in the frame rate, sadly. Not so terrible as to make it unplayable, but it's noticeable, especially when you round a corner tightly or otherwise do something that forces the game to render more than your immediate surroundings.
Overall it's fun, but not terribly scary. We'll see how the story develops.