I discovered the two fonts used for Silent Hill 1's cutscenes ("1ST/FONT16.TIM") and the higher quality font texture file "TIM/FONT24.TIM", which is also the same font used on all the pre-rendered graphics such as the maps and buttons.
In the case of the maps, buttons and FONT24.TIM, It's an old Apple TTF font called "New York" and it looks like a perfect match!
The cutscene font is an edited version of another old school Apple font, "Times", with the size set to 18 point, and in bold.
As you can see this is clearly the original font the artists at Konami used as the basis for the final in-game font. Some glyphs like the letter M had to be squeezed slightly. I'm assuming this had to be done in order to make the font fixed-width.
