The utility of any PC overshadow's what a console can do and will likely ever do due to licensing rights associated with consoles. The power of a PC will most likely always overshadow what a console can do.
Consoles have always fit the nitch that allows households to play video games without the fear of having to troubleshoot complex hardware and software issues. Heck, even my 60 year old mom and dad play video games on a Wii. This just isn't feasible for most when it comes to figuring out issues with PC games. We have also donated old consoles and games to charities knowing that some lucky kid will be able to enjoy the games. I would never consider this with a PC.
I do wonder how multi-player gaming will impact PC game sells in the future for titles that exist on PS3, 360 and the PC. Given each system have isolated player bases, this may influence someone to buy on the 360 or PS3 because the player base may be perceived as larger or more consistent. I find this compelling as I can't play against my son in COD MW2 on his 360 with my gaming PC. My only choice is to purchase the game for my 360 if I want to play the game with him. Yes, we have two 360's mainly because I caved to get my kids off the main T.V., plus we use my 360 for dvd's and netflix in addition to games.
In short I have enjoyed games for Atari, Nintendo, Sega, Playstation, Wii, Xbox and PC games over the last 30 years and plan to continue to play good games when time permits regardless of the system.