I'm going to side with flavio on this on one point--the hardcore gamer will want both. I understand entirely what he is saying about playing with friends. I've held a Madden tournament for the last 9 years starting on the Sega Genesis, to the Playstation, and finally last year on the PC. The setup was really nice...four computers, two games going head to head. It failed horribly. First of all, of my friends, I'm the only computer nerd so anytime anything happened I was the only one who could fix it. Second, nothing beats playing in front of a crowd on the big screen. My 19" monitors with the games was like watching TV in black and white. It just wasn't right.
Nothing beats a LAN party either. By the time consoles are able to match the fun of a LAN, they "will" be pcs. I disagree with flav and would say that the best RPGs are on PCs and not consoles. Console RPGs seem very linear. Another thing I like about PC games are the patches and the tweaking that consoles do not offer. Console games are not bug free, they are optimized for the systems and do not have compatibility issues (usually) but they still have bugs, which you can't fix. Broadband is another issue and again, once consoles have this, they will probably have the rest of the goods to make it a pc!
Consoles are easy. Unlike Windows, PnP actually applies. They are perfect for playing games with your computer illiterate friends. As mentioned, sports and fighter games on consoles roX0rs. PCs will always dominate online play and LAN parties ('cept for Madden with the aforementioned friends).
I'll continue to upgrade my PC to play the latest PC games but I'll probably get a PS2 even only for Tekken. Lord knows I've spend hundreds on my computer to play one game so it's nothing new. Draw. I think people who like all kinds of gaming will want both.