I think Bittorrent has done to movies and to a lesser extent games what Napster did to music, basically it opened up piracy of those things online to the masses. Sure there was videogame piracy for a long time (I remember going to friends houses to trade/copy Commodore 64 games and logging onto scene BBSs) but it has never been easier than it is now. There are games that are exempt from most of the problems of piracy like World of Warcraft but anyone who thinks that other companies aren't feeling the affects of piracy are fooling themselves.
As for PC Gaming, there is indeed a huge list of PC exclusives coming out but when you look at the actual development budgets on most of them and the expected number of sales the vast majority pale in comparison to console games. There are a few successful PC publishers/developers that dominate PC Gaming (Blizzard, Valve, EA) but everyone else is basically fighting for scraps and many of them are turning to consoles to help pay rising development costs and because of rampant piracy (id, Epic, Bethesda, etc).
The influence of gaming consoles is growing, it can be seen by the popularity of Unreal Engine 3 and the reasons behind it. It can be seen in more and more big PC games having simultaneous release dates on consoles. It can be seen in the number of PC games that push the envelope becoming smaller. For every Crysis how many games with far more modest system requirements are produced? Anyways that's just my two cents on the whole topic.
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