Looking really good, that test environment and the sparse, misty logo really set the mood. Seeing those gruesome critters in the full light of day somewhat diminishes their impact, but I don’t doubt they’ll be creepy as hell in situ.
Just IMHO, re psychological horror, I don’t think this classification precludes jump scares, only that what is doing the scaring is more rooted in the protagonist’s repressed memories, mental instability, etc. rather than coming from an explicitly external source (ghosts, vampires, aliens, etc). The old am-I-going-crazy-or-is-this-really-happening gambit (skip ahead to the bit about monsters at 2:27):
As often as not the horror is a manifestation of something horrific the protagonist did in the past, e.g. in PT, the protagonist most likely murdered his wife and child (from the playthrough I saw). But PT and the Silent Hill series as a whole cross well over into supernatural/Lovecraftian/“cosmic” horror as well, making it harder to draw clearly defined labels… all while never letting go of the possibilty of whether any of the supernatural elements were real or simply in the mind of the tormented protagonist. The movie Jacob’s Ladder (supposedly a major influence to Silent Hill) asked this question very well by the end. What makes it psych horror is that the ghosts, vampires, aliens, whatever are always presented through the unreliable viewpoint of this tormented soul (making it an ideal genre for games), versus the implicit assumption in non-psych horror that the monsters really exist.
Just another perspective 
In any case, looking forward to seeing more of !