If we're still discussing this...
Given that the monsters do run faster than you -- It could be changed so that you run with equal speed to the monsters at first. This will give you a chance to get away (via out maneuvering) or finding a place to hide. If you're still out in the open and are still running away your speed will wear down. But this scenario assumes that the monsters wouldn't experience fatigue either. If they did then this could keep you and the monsters on a bit of equal footing. I'm sure that would decrease the level of fear. As the player -having the disadvantages that you do is what keeps you on your toes.
Regarding Adrenaline... I know we're talking more about 'Flight', but this also made me think of 'Fight'. I know that's not what Amnesia is about... But, imo, there's some room for discussion here (what it can do to the monsters or make them do -like get angry..er,
angrier!). But I'm sure that's been done before and shot down.