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So I'll throw in my two cents...

I think that PC gaming is best for me, because I like to play a lot of older games. With (mostly) GOG and Steam now carrying a lot of older titles and (mostly) ensuring compatibility with more recent operating systems, I can do that pretty easily.

I spent $900 on my computer, including the cost of extras (mouse, headset, monitor, etc), and it can play most games on high settings, save for the newest releases. (Skyrim on ultra, plus mods? Yes please!) Mods are also huge for me; I can tweak the game to make it look how I want it, and I can extend the life of a game dramatically.

Plus, the cost of games is great. Some companies (Activision, EA) don't discount their titles as much as they could, but... there are some insane deals out there. I have spent $130 on games this year. From that, I got 48 games. Yes, 48. (Knock off 20 games and $30 if you want to exclude titles from the early 2000s/late1990s). That's pretty fantastic, and includes all three Bioshock games for $10 during the last Steam sale. Since I have such a huge backlog of games now, I don't need to keep up with the newest releases, and I can wait for them to drop in price.

I won't say that PC gaming is for everyone. I love my PS3, and consoles are not without their advantages. But I'm very much a PC gamer first these days.