Deadly Premoniton is an Xbox 360 exclusive(In America anyway) Survival Horror Budget title supposedly releasing February 23rd. It was originally known as "Rainy Woods" and was announced back in 2007, But due to some legal issues big changes were made to the game.
I've heard alot that it's releasing for only 20.00$
So i'll probably pick it up at some point. It doesn't look great at all, But it doesn't seem that bad for a budget priced horror game. We'll have to wait and see I guess.

Trailer: http://www.youtube.com/watch?v=HYYXnsI2If0
Screenshots: http://media.xbox360.ign.com/media/761/761567/imgs_1.html

I don't care so much about graphics and sounds as long as there is a good story and good gameplay.

Same here, Graphics aren't a big deal to me as long as it's fun.
I hope this game is creepy and fun. I just wish there were more gameplay videos available.

Gameplay trailer looked a little boring.  I'd have to see a little more about this one before committing to it.  A good creepy survival horror is definitely needed.

I decided to look up its japanese title on youtube and I found this trailer. It shows a tiny bit of gameplay.
It also has Dancing Fat Dudes, Cross-Dressers and Purple Blood.
http://www.youtube.com/watch?v=uBj8vXXIWEk

 Doesn't look like a good game at all! Lol. Is this a game that is gonna be on a disk or is it gonna be a game where you download it digitally by like Marketplace or something? If it is gonna be on a disk I might rent it from blockbuster because I love horror games like "Condemned" or "F.E.A.R" :)

It's not an Xbox LIVE Arcade title, Just a regular xbox 360 game on a disc.
It doesn't look that bad to me, the graphics ain't pretty but I don't care about that. It does look strange though, Like it'll have some "WTF" moments. So as long as it has a good story and it controls decently it'll be worth the low 20 dollar price point in my opinion.
If it were 60 dollars I wouldn't even consider this game.
But for 20 dollars for a new survival horror game, I'm willing to give it a shot.

Well based on that Japenese trailer I agree that it has WTF?!? going for it.

I was browsing amazon and looked at the page for this game and it said that this game is supposedly over 20 hours long. That's pretty freaking long for any game, Especially a 20 dollar budget title. I'm not sure how true that statement is, But I found it interesting.