The narrative in SH2 isn't really that good I felt. I so wanted to get blown away by this game, and the whole opening until you get to the first main area got me hyped to no end (and SH2 has the best soundtrack out of them all, only SH3's comes close to it). Unfortunately what followed was some sort of letdown. It felt like playing through a lot of mini stories instead of a big great one, something that was pulled of masterfully in SH1 in spite of the strange dialogues (which actually made the atmosphere more eerie for some reason).
Didn't play much of Homecoming yet, but it was pretty okay, nice visuals foremost. However they way it throws you into the story immediately confirms that the plot won't be very good overall. It could have been similar to the SH3 opening, only longer but apparently it isn't.
SH3 has the best visuals hands down. Strangely enough I didn't finish it yet, got about to the halfway point. I want to play some other games first and save the hyped ones for later. But up to this point there were some annoying parts but also some truly awesome parts, especially that cutscene in the motel room. Heather is such a great and believable character. The only SH character I like more is Lisa from SH1. Well what do I need to say about the first game. It is an unsurpassed masterpiece. Definitely play this first when you don't know anything about Silent Hill yet. I also have Shattered Memories already but I also want to save this one for later.