Also, I have a mediocre PC but it still plays games better than my PS3. I suggest you use Steam. Here's why:
Installing and updating: Steam does it automatically. No hassle at all. I've not had an installation error in like 5 years.
Drivers: Steam will detect when you need an update, and link you to your drivers page. Very easy to install.
Glitches and Patches: As was mentioned above, they exist on consoles as well, but again they are done automatically.
Reinstalling: Steam again will make this insanely easy. You can log into your Steam account and re-install anything whenever you want. No discs, no issues.
Key Codes: Again, never used on Steam.
And lets not forget all the benefits of Steam: Pre-installing games before release, prices that can be as much as 1/3 below retail, insanely easy access to all your games without swapping a single disc, and the awesome Steam overlay. These are all conveniences you can't get on any console.
For your last couple complaints such as upgrading, you really don't need to upgrade much. Upgrade a graphics card every couple years and you're good to go for a whole generation with everything else. If you aren't sure whether or not you can play a game there are a million websites that can test that for you with reasonably high accuracy. I prefer this one.
