'
I think the point people are missing is that you can choose to spend as little or as much as you want on a PC. Since 90% of games are consolized, you don't need a $500 graphics card to get the "Best" graphics a game can offer. Not only that, when you start pricing games, console games add up fast compared to PC.
What kills me is people compare the "entry" level consoles, which, really is just that..entry level. You aren't talking about Live, the extra controllers, the HDMI cables, etc etc that nickle and dime you to death. Not only that, when the consoles came out, base models were not $200/$250, more like $399 and $499.