It boils down to the sort of games you like to play. These days I think most games are squarely aimed at console gamers, like Bioshock, Kane and Lynch, even Crysis IMO.
I buy mostly for the 360, because I find that the 360 versions of games are a lot more fun to play. Take Ghost Recon 2 for instance, I have that for the 360 and the PC, yet the PC version is incredibly difficult in comparison - a really pretty game on the PC but a fraction as fun as playing the 360 version.
It's a similar story with Oblivion, I got it on PC and played right through, cheated my way through of course but now that I have the 360 version as well, it's actually quite cool to play it from the console perspective. No cheating, taking my time, it's got a different feel to it even though the mechanics and visuals are practically the same.
I think buying the latest and greatest hardware for the PC is a mugs game, I tend to drag my heels when it comes to upgrades - personally I find the major benefit in having decent hardware is being able to play slightly older games in their full glory, like Black and White 2, been playing that recently with everything at max, and having it run all smooth and pretty like the creators intended is a nice change.
So if you really must play the very latest games, buy a console - but if your a hardcore gamer who is more into classic games, or the more cerebral games then a decent spec PC is the way to go. Or just have both. Frankly I play the DS more than the PC, Wii, and 360 combined - it just depends how much you can get away with spending on your gaming
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