Konami has confirmed via Beefjack that Silent Hill: Downpour will release Q2 2012.
Silent Hill: Downpour, which is being developed by Vatra Games, was expected to release on November 4th 2011 for PS3 & Xbox 360. So far no reason for the delay has yet been released. The new release date could fall anywhere between April 2012 to June 2012.
Amazon Germany has put down February 15th 2012, which is not within the quarter 2 window, so expect that to change.