Posts like this are pretty useless, this isn't anything new, and if anything, it's gotten a lot better in the last half a decade. With ATI/AMD and Nvidia at least other's throat on competitive level, prices have plummeted on hardware that would have easily been 3-4x what it is now half a decade ago. I just picked up a GTX260 for $160 at newegg a few months ago, and I just picked up a q300 quad core processor for $180 at Microcenter last week. Not to mention the 8GB of DDR2 I got for $80 last month as well. At this point, with some smart shopping, you can build a pretty uber PC for less than the price of a PS3 160GB model.
Also, I never buy a new videocard more than once every 18 months, and it's usually closer to 2 years. You can get Xbox 360 level graphics out of a most Geforce 8x00 series based cards, and can be found for $100 or less. Yes, if you're looking to run Crysis Warhead on a 24" LCD at 1920, that's not going to for you too well, but most PC gamers run at 1280x1024 or less on a 17" or less monitor.
Hardcore gaming isn't about how many polys or shaders you're pushing on the screen IMO, it's about the game as an overall experience, the level of control and community that clans and systems like Steam encourage, and being able to Alt-Tab from Left4Dead over to IRC to talk to the guys you're playing with or invite others from the channels you hang out in, or watch for e-mails at the same time, yes, you could sit a laptop beside you on the couch and do that, but that, IMO, is even more uncomfortable than sitting at a desk gaming.
PC gaming is definitely taking it's hits, whether it's for piracy or low sales or whatever, but in my mind, PC gaming is still the best way to harvest a feeling of community, not to mention PC gamers still get most of the great free content from the user community, so while games like Left4Dead and TF2 might eventually get Valve's own DLC, TF2 already has a massive number of awesome user made maps and mods, and Left4Dead will no doubt have the same in 6 months.