PC vs Console Gaming

I am a fanatic when it comes to video gaming, I am playing since I was just 5 years old thanks to my father's job which requires traveling and with it brings a lot of stuff he bought for me which were not available during late 80's and 90's in India. To name a few my first console Atari(1988) and Nintendo Entertainment System(1991).
Then, we got a computer and started playing games on it. The problem I always faced while playing on computer was that games which were good such as Need for Speed(NFS) or Unreal Tournament(UT) always had glitches reason being computer was not ready to handle requirement because of less RAM and weak Graphics card. I subsequently upgraded my computer's RAM from 32 MB to 64 MB, this is the story of year 1999 this upgrade set me back by Rs 4000(~$100). Then even after upgrade I was able to play NFS in low graphics mode and UT was still unplayable. Then again I spent like Rs 1000 to upgrade my 4MB SiS Video Card to 8MB Intel 740. It was good enough to play the two games but then UT needed more RAM, then again upgraded my system to 128 MB RAM, which again set me back by Rs 4000.
Then, after giving 12th class exams, bought Need for Speed-Porsche Unleashed(NFS-5). This game didn't run for whole six months simply because it needed latest Intel drivers which Intel released after six months of release of this game. In the mean time, I asked my dad to buy a solid top of the line Graphics Card. He did buy an Asus Geforce 2 GTS, which was pretty expensive at that time(~$299). I was happy for like 3-4 months before John Carmack unvieled Doom-3 along with Geforce 3 and he told that even Geforce 3 struggles to cope with the game's graphics. Even with Geforce 2 GPU I saw games were not as good as the card should produce then I realized with this GPU needs Pentium 4 CPU, Rambus Ram(1666Mhz), same 1666Mhz Front Bus to perform at it's peak. Then I finally gave up and thought of not investing money into this PC hardware thing. Though I admit I bought Geforce 4 for my new computer but till then I wasn't a PC gamer anymore.
Now, I play games on my consoles namely Xbox 360 and Nintendo Wii. I am very much satisfied with my purchase and console's performace. Since developers are making games knowing the hardware configurations/limitations and games have pretty awesome graphics wise and one don't see glitches while playing them since they are tightly coupled with the hardware and the best part of console gaming is hardware is not gonna get outdated in next six months and will be there for atleast next 5 years which means the money you invest in Console hardware is secure.
Plus, these days there is trend of releasing new games on consoles first and then on PC which means 6 months lagging period also some developers don't even release PC version since PC games they know are mostly pirated. One can attach console to any size LCD or Plasma screen and experience true HD(1080p).
To sum it up, I agree with newer hardware such as new CPU and GPU one will have an edge but this thing comes at a very steep price. If one uses right things such as right motherboard, latest GPU, 8-core CPU, high performace gaming RAM's, the cost easily can touch upto $3000 and the worst part is after 6 months the same system could be made/purchased for less than $1000. Plus, even with this superb hardware, one has to install buggy,crapy Windows Vista which has 1000's of it's own problems and crashes whenever it wants and thus ruining the overall experience of the new computer. Console such as Xbox Arcade edition just cost $199 and $249 for Wii are much more fun to play since I have always liked Controllers with rambling than Keyboard and a mice. Carpel tunnel not anymore :D.