However you can tell the team was under strain, I mean, they completed Silent Hill, it was a huge success, and they were given enough time to create Silent Hill 2. However, due to it being a bigger success, they were made create Silent Hill 3 right after 2, with 3 suffering for it, and then when they tried to create something fresh and new, AKA Room 302, Konami made them throw more Silent Hill references in and tack on the Silent Hill name.
If anything, the reason we have not seen anything from Team Silent since 2004 is probably because they were worked to the bone from around 2000 through to 2004. And with, what I imagine, mass dissapointment with the Silent Hill film, only three members of the team are still visable, Yamaoka (who is taking alot of credit for the creation of the series), Ito and Owaku who are currently writing digital graphic novels for Japanese cell phones within the Silent Hill universe.
So yes, Silent Hill 4, great success!
Also, another favourite moment, Silent Hill 2, when James realises everything in the hotel room after watching the tape.