I went back to it now. I played about 3 hours straight and reached Ikebukuro. Judging from a FAQ i looked I might finish it in the 30 hour mark.
Oh, and that boss El Matador, he's simply impossible. I used my Action Replay to have inf HP until I get back to things, but I'm not sure I'm turning it off ever!
Nevertheless I'm glad I'm giving it another shot because it's really fun. The mood in SMT are just great. Probably because I love survivor horror, when I see a more obscure theme I'm inclined to like it.