I've countless times done quite a bit of research into PC parts, always considering to build my own gaming PC. In the end, I can never justify it, considering the cost vs the amount of time I spend gaming, but that is purely a personal issue. There are many multiplat games I don't have much, if any, interest in (not because of their quality, but simply because they just aren't for me), so better graphics on those don't really matter to me. There are, of course, some games that would be vastly better on PC (Like The Elder Scrolls, for instance) that I do like very much, but they aren't enough to justify the cost for me. Couple that with the fact that many of the good PC exculsives can run perfectly fine on my relatively crap school laptop, I don't need a gaming PC.
If I were to build a PC, however, I wouldn't do it to replace my console. I'd do it to supplement it. My console(s) for the exclusives and a few multiplayer heavy games (where your friends game are important too), and a PC to run multiplat games on the highest settings.
