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Locknuts said:

But now you can buy a single card that smokes my two old cards for far less money and with 4 x the Vram. For example an R9 290:

http://www.newegg.com/Product/ProductList.aspx?Submit=ENE&DEPA=0&Order=BESTMATCH&Description=r9+290&N=-1&isNodeId=1

With one of those you could definitely build a PC for the prices you mentioned. The 360 could be bought for as little as $299 back in 2007 and would smoke a $1500 PC. It was a true beast. I remeber because I built a PC back in 2007 for that price and my friends 360 absolutely owned it. I subsequently bought a 360 and only used my PC for RTS games until my upgrade in 2011.

The 360 was a real alternative to a gaming PC. These new consoles are very disappointing by comparison.

Umm, AMD won't live very long if they keep cutting their margins like this ... 

And also the 360 would get smoked by the GeForce 8800 Ultra around the same point in time so the 360 was a pretty far away alternative to PC gaming ... 

The new consoles are far from disappointing all things considered. It's because of the PS4 and X1 we were able to usher in the age of physically based shading with games like Killzone: Shadow Fall or Ryse: Son of Rome. These games also make the most graphically advanced games on the PS3 and 360 look like turds in comparsion ...