I'll give you cheaper games (and free extra content), but you don't have to pay for Live (no, you don't have to) and PSN/Wii are both free and do I really need complete control to play Gears, inFamous, Uncharted, LBP, Mario Kart, or most of the other console games? (no desire to change button layout? choose your online mathes on MK? add some AA? choice eh, who needs it really) No, I just need to pop in the disk and go. I don't have to fiddle with drive space (fiddle? why do consoles have 20GB, 40GB SKUs?), shortcuts, resolution settings (i've had more trouble with PS3/360 rez than PC), graphical settings (that's the control I was talking about, you don't have to change them), and everything else (like overpriced wireless adaptors, overpriced hard drives, 1m short cables, subscriptions).
And again, it may work for the college guy/bachalor/12 year old to have a giant PC in his living room, but for most other people it doesn't really fly. (takes up less room than 360+PS3 and isn't anywhere near as ugly those 2, which sane woman allows a grill (PS3) under the TV, 5 Wiis would be nicer to look at)