Didn't quite know where to put this, but I figured this was a good a place as any (especially when you consider the last Splatterhouse game was released in 1993).
There is a new fan-made Splatterhouse RPG that was recently released for download. Seeing as how there are a few Splatterhouse fans here, I thought that they (and the rest of you) might like to check it out.
According to 5thman, the game's creator, it was created using RPG Maker 2003 and it is 100% complete. Also, as he put it, "You don't have an elaborate storyline or level-gaining arc or anything like that. It's mostly a big puzzle with a billion opportunities to die. Sometimes pretty amusingly. If you know where everything is it's probably beatable within an hour." Also, it's "...like Shadowgate with lots of fighting, running, and screaming." I've played it myself and that's a pretty dead-on description.
If anyone is interested in checking it out, here's the link to the official site: http://splat2k3.illmosis.net/, and it is also available on West Mansion.
Here are some screenshot samples: