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Finding out about new games was good in the past, but nowadays they just remake old games and make them 3D, it would be good if they brought back Power stone and made a 3rd game. That would be very interesting.
And Silent Hill wasn't at Tokyo Game Show. Not that it was confirmed to be there in any case. But still - the fans had high hopes that a major event like that could have been promising.
At this rate, I don't know if the series will ever return. Konami doesn't really make an awful lot of new games anymore. However, with how Capcom handles Resident Evil, you would think Konami would perhaps try to emulate their amounting success. Although despite what people may say, Silent Hill was never as huge as their franchise. So far, only 9 million units has been sold. The Resident Evil saga has collectively sold like, 110 million units. So there's no major competition going on.
Dusk Golem on Twitter claims the soft reboot is still in development, and that it has been for the last 2 years.