Joystiq reported that retailers were pushing the date back to March 6th, 2012. Konami has since confirmed that the title will be delayed at least until then saying, "[the] Silent Hill HD Collection release date has been changed. The game will now be released in March. We will be sending out definitive dates on all three Silent Hill games later this week."
Slightly upsetting since I was looking forward to playing through Silent Hill 2 and have never played the third, especially considering that January is bone dry now when it comes to releases.