Blimey i'm tired of seeing this topic of conversation. I can't be bothered to read all this thread, as this subject comes up so often and i really don't understand what all the fuss and confustion is about.
I have a car and a motorbike. Both have different functions and different prices. But they both co exist rather nicely and will continue to do so.
Yes, consoles are much cheaper. A top end PC might cost 10 times as much, but there is 1,000,000 times more things you can do with PC's. That makes them much more expensive, yet actually better value for money IMO. If you can't afford to buy a PC or only want to play games, get a console (or get a console and a cheap PC). Simple. I'm going to buy both as i prefer the PC kept out the livingroom and i like FPS and RTS, which as much better on the PC. But at te end of the day, who really cares? Some people have bikes, some have cars, some have both. But bikes are not going to replace cars any time soon.