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Killiana1a said:

 For $300 you can play Modern Warfare 2 with less hardware worries than someone playing it on a $1500 PC gaming rig.

Hardware is really really cheap now. Excluding monitor and peripherals because the console doesn't have them, I could put together a PC that gives 360/PS3 like graphics for $300:

CPU $50 (X2 240)
Motherboard $40 (690G)
RAM $30 (2GB DDR2)
Graphics $50 (HD 4650)
Case PSU $40 (or use your current)
Optical Drive $20 (or use your current)
HDD $40 (or use your current)

Total: $270, or $170 if you use whatever computer parts you have now

Because you do own a computer right now, so just reuse it and add capable CPU/graphics/RAM.

Not $1500 at all.