Consoles are cheaper than gaming PCs hardware wise but you will find better deals on PC games (definitely if you can wait a couple months).

Plus you can do a lot more things on a PC than a console.

Then there is the whole upgradable thing... a year from now PC's will begin to distance themselves once again from these new consoles hardware wise.

That said I think a lot of it is just personal preference. I own two 360's yet I've probably only played about 8 hours total of video games on them and probably not for at least 2 years now. I just use them as MCE extenders for my HTPC. The reason I don't play games on them is I just can't enjoy video games with controllers. I must have a keyboard and mouse.

-Ben
HT v2.0
HT v1.0