A new fan game called Streets of Rage: Silent Hill is a 2D brawler set in the Silent Hill universe. It even includes a playable Pyramid Head.
In fact, many of the characters from the Silent Hill series are playable, including: James, Maria, Angela, Travis, Eddie, and Heather. It features original sprite work for these characters and is made in the Beats of Rage game engine.
You can download Streets of Rage: Silent Hill for free here.