I didn't think I remembered this at all until you mentioned Sebastian Cabot and that does ring a bell. I do seem to remember him hosting something like this, but that's about it. I never knew about the William Castle connection since before today I never remembered the name of the show.
I could see this series being easy to forget. It doesn't differentiate itself from similar shows too much in its single season but I do appreciate the effort that was put in.
If the latest episode of The X-Files
, which concerned itself with misremembered facts, had used Night Gallery
instead of The Twilight Zone
in its plot, I could see Ghost Story