Personally, I'm open to the first person mode. Look at Metroid Prime, no Metroid game before it was a FPS, and it was a good game. I think, if they make it like Alien: Isolation, it could work with the RE franchise. I'll wait until the first actual gameplay trailer for RE7 before passing judgment.
And I've said that before, b93, Vendetta also has a mansion, it very well may be tied to RE7. That's where I draw the conclusion that the 4 side stories will feature old characters, those being Chris, Leon, Rebecca and Jill. 3 of those are already confirmed to be in Vendetta while Jill was easter-egged via e-mail file in Revelations 2. Also, the available physical evidence I screen-capped from the E3 trailer does kinda point to them-the scribbled-out girl photo very much resembling Rebecca, the long-haired guy in the biker jacket, the green cargo pants on the guy stepping beside the car, and the person wearing a pair of wristbands inside the car (those arms are too small to be a guy, just sayin') all point to those 4.