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LEAVE ENDING
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After the last boss dies, a letter from Mary is read. Then...
***SPOILER ALERT***
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JAMES LEAVES SILENT HILL WITH LAURA.
Those are only 2 of five rumored endings. I must get them all first
before describing them.
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MARIA ENDING
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After the last boss dies, James goes to Rosewater Park with Maria and
decides to leave with her altogether. Maria coughs in the process, so
supposedly he'll have to live through that nightmare again.
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REBIRTH ENDING
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After defeating the final boss, James runs to the boat and rides it to
the island in the middle of Toluca Lake. He performs a ritual for
Samael and according to President Evil, revives the cult.
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DOG ENDING
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After using the DOG Key at the appropriate location, a dog is at the
controls of a panel. James speaks Japanese to the dog and then the
ending ends. Thanks to "The_BullPen" for the description.