The PC will always be superior in technology because you can always upgrade it: Compare a console with PC equipped with a i7 processor, SSD, ATI 5970/NVidia 480 and 24 GB mem, and you'll start crying if you have a console because you CANNOT upgrade it like that. There is real, and not just fictional, backwards compatibility. You can run older stuff in it (VM or Emu) without having to manipulate the box, you can mod your games and also attach cool stuff like tripplehead projector "surround" gaming and Track IR.
Basically, a PC with all these possibilities turns consoles gaming to yesterdays P.O.S. It is more expensive - yes, but that's not what this topic is about.
The only thing that were better than a PC was the Amiga series, they had everything then that PC's got 10 years later, but Commodore f****d everything up.
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"It is far better to grasp the Universe as it really is than to persist in delusion, however satisfying and reassuring" (Carl Sagan)