This really is like trying to compare old horror movies (1920s to 1978) to new ones (1979 to now). Don't get me wrong, there have been some great new ones, but let's face it, the old ones are always going to be better. While there are some great horror villains in today's medium like Jason Voorhees, Freddy Creuger and Michael Meyers, you really can't compare them to horror icons like Dracula, Frankenstein, the Wolf-Man and the like. Oh, and let's not beat around the bush, Night of the Living Dead's zombies > 28 Days Later's zombies.
But that's not the topic at hand. Old horror games (I.E. not on this current generation) are worlds better than new ones. New ones try to startle, old ones fuck with your brain. Silent Hill 2, Eternal Darkness: Sanity's Requiem (oh god, don't make me play it alone in the dark!) and the like won't just send shivers down your spine, they'll case said spine in a block of ice.
But that's not the topic at hand. Old horror games (I.E. not on this current generation) are worlds better than new ones. New ones try to startle, old ones fuck with your brain. Silent Hill 2, Eternal Darkness: Sanity's Requiem (oh god, don't make me play it alone in the dark!) and the like won't just send shivers down your spine, they'll case said spine in a block of ice.