I know there are a lot of RE4/5 haters out there.
Let me make a statement:
The survival/horror aspects that were seemingly lost in RE4 and 5 ARE NOT due to game play. It was entirely due to the way they told the story, and the lack of a horror atmosphere.
If you want a scary Resident Evil 5, go play Dead Space. It has a similar 'action shooter' control scheme, and is one of, if not the, scariest games I've ever played. I don't want to say I or my fiancee are horror game buffs, but I can't think of a series I've played that was better and making me not want to play due to terror than Dead Space is.
If RE1-3 were remade, and had atmospheres similar to Dead Space, I can assure that they would be frightening. I especially think RE1 would be a great fit, due to the constricted hallways of the game, as it tends to hearken to the Ishimura. I couldn't imagine walking towards a narrow halway in RE1, and seeing a flash of thunder through a window, illuminating the silhouette of a zombie.
Back from the dead, I'm afraid.