It's sitting on my shelf right now, though I've never actually finished it. That game scared the shit out of me, and I have no doubt it still would. The atmosphere is so engrossing and unsettling that I don't think I'll ever get over it.
I became a big RE fan when 2 came out on 64 and then got to play the other PSX titles at friends houses. I got my PS2 in 2001(was in 10th grade). At some point I heard about SH2 and decided that since I loved RE, I'd probably like SH as well. I remember picking up a used copy of SH2 one day and being pumped to get home. Jesus Christ. I did not have a good grasp on what survival horror could really be like until that day. I don't think I've ever been so on edge in a game than when I explored the apartment building for the first time.
I've always favored SH3, but that might be because I actually beat the game. Both have awesome soundtracks and are great visual showcases on a system that was lacking them. SH2 tells a better story, though, and very few other games come close.