I'll take your word for the ping limitations, but as you yourself note - the problem is overloaded servers, not a crappy console. This doesn't really affect me to any extent because - like Leety McLeet - whenever I've Halo'd/CoD'd/BF3'd on the console it's been like being back at school (and not in a good way).
Then again BF3 on the Xbox really, really, really ... , really stunk - even with the 4 tonne anchors of Battlelog and Origin, the PC version is just light centuries ahead.
Halo I never really "got" - certainly not to the "best game evah" extent that some shout it up. Forza though, and some of the PS3 exclusives, would be pretty nice to have on "proper" hardware.
Maybe, just maybe, the closeness of these next gen consoles to PC's will mean there's more likelihood of "console exclusives" making the platform jump. Nice thought to end on.