In an interview with BlendGames, Remedy has said that the 360 is a much better environment for Alan Wake than the PC.
“Our roots are very much in the PC development but focusing on one platform has allowed us to make the best possible game, so in that respect we’re very happy focusing on one platform. We don’t have any plans for a PC version now. This feels like a very good environment to play the game where you have the big screen and couch for something so cinematic and large. But that’s just my personal preference. “
So the PC version was canned due to personal preference of the developers, hmm?
Anyhow, the game is due out for the Xbox 360 on May 18th.