Wow.
The atmosphere was really unnerving and I had no clue where I'd end up after pressing spacebar. It was suspenseful, it was uncomfortable - and that's the point! I loved the playthrough. I managed to get to the end on my 4th try (one death to the chasing wraith, two to the statue - I had to figure out what killed me :D)
I really liked how each of my runs was a bit different since I tried approaching the pathways different ways. The concept could definetely be expanded - the artwork's AMAZING, the mechanics are obvious after a certain point, but adding something like a world which lets you pass but spawns a creature in the distance that you can't approach OR a world that lets you pass one way, while blocking the other - would make a great spooky puzzle!
Sound design - on point. Creepy jingle when the wraith was approaching, church bells when the statue reminded me that my demise is close, deafening static when I had to make my way through the pathway.
Overall, it was amazing. I think the only thing that confused me was the 'use sparingly' thing.
In fact, I could NOT use it sparingly as the bell statue thing snuffed me out twice as a result :D
I'd love to see where you could push that concept. Great entry!