With all respect
What about Alan Wake? Dead Space? Silent Hill? Siren? Amnesia? Just to list some of the relatively new releases.
The problem is not action, but rather too much action. That gets predictable too, and it kills the tension.
the only games that close which would be Amnesia and Silent Hill but then again, most Amnesia part were scripted (except for certain custom stories), whenever you get the keys or items, the Gatheres appears, you play it many times eventually you'll know when it will appear, either by smashing the door or you visions getting fuzzy.
Dead Space are more or less similar with RE. the horror were mostly at the beginning, it will going off too much action later on especially Dead Space 2, heck, first game was more horror than the second installment but still everything seems predictable and scripted.
Siren was good but the enemies kinda have their own guideline to walk, they aren't stranded too far from their path.
Alan Wake was cool, i do love the lack of ammo but it's doesn't have the scary factor. the main important thing was to stay alive!
like i said, Survival Horror doesn't always have to be lack of ammo, dark, spooky, tight corridors. the most important thing about Survival Horror is that it might cost your life in a f*cked up / bizarre way and you need to take whatever necessary to stay alive.
Silent Hill possibly have all of it. most part in Silent Hill 2, 4 and Downpour wasn't really dark however the atmosphere in SH2 was totally amazing. the best thing about SH is that you don't know what the f*ck is going on and you are surrounded by deadly monsters so all you need to do is to stay alive.
have you ever seen Chainsaw Massacre? most of the scene were in the daylight, less at night, a crazy guy with a chainsaw chasing you whenever you go. that film just proved that not all the horror need to be in the dark.
also with random approach, seems to be like most Survival Horror / Horror games lack of that. everything just cheap jump scares. the random approach which would be the old Clock Tower, the midget with scissor was hilarious but the way he approach you were totally random and everything was complete silence until you saw him then the music starts to rise. it's not really scary (most time was funny cuz the midget was too slow chasing you) but it gives you spook and tension that horror supposed to have.
even games like Left 4 Dead was listed as Survival Horror even tho it's too much action. why L4D was listed as Survival Horror? cuz the main objective is to
STAY ALIVE!