The only game I have ever shut off the console over in the middle of playing.
Anywho, what makes the game so scary is that the atmosphere is amazing for one thing. You have a whole town to explore, and by god are there scares. If Japanese horror scares you, you are in for the ride of your life. HOWEVER, if you are the type that finds, say, the Ring a bore, and prefer your classic slasher films; then this is not the kind of game for you. It's all about suspense. Not too mention the ghosts are petrifying, the falling lady was one that particularily got to me. Not to mention the part with the 'peeping boy' actually had me shut my console off. The soundscape has to be heard to be believed. I won't even begin on the storyline, it is just something you have to play to take in.
The sad part is that the third person gameplay when you aren't fighting ghosts gets extremely repetitive at times, and kind of dull. But that problem was addressed in the directors cut, they introduce a FPS mode. The game is three times scarier to me on FPS mode. God... As for replay value, there are unlockable costumes and whatnot, great ones if you are a guy with a taste for some good ole' *** fetishes (maid outfits for the twins, anyone?) All the same, this game is the scariest I have ever played, and I've played scary games. Silent Hill, Resident Evil, Doom 3, Clock Tower, etc etc, nothing leaved me more afraid. Play alone at night if you really want the thrill of a lifetime. 9/10