I bought this months ago and really got into it. At first it seemed abit dry and you think "Whats so scary about this?" But put aside your expectations of a Steven King horror novel and just dip I'm with an open mind, and it really opens up.
Essentially it's an interactive audio book. At certain points in the game you are given choices to make. Sometimes catchig the ghosts requires you to "follow" the spuds going left to centre then right, and acting accordingly. I wot say much else about what is involved, but as I got further in, I isn't want it to end. The only thing consoling me is that there should be an Episode two.... I gopeit comes out. I will be willing to buy it at full price. If you look at the audiobook section of iTunes, they already cost at least $9.99 so for something with a little interactovity works well for me.
I hope that the lite version goes deep enough to let you really get a feel for it.
PS. Remember to play only with earphones on. Won't be immersed without it.