A game can look incredible on just about any system given if the developers are competent enough to work around the given limitations of the hardware they are working on and optimize their code to make the most out of it.
Most of the best looking games I've seen have had nothing to do with the amount of polygons on screen or whether or not the special effects were real time or scripted.
The art style, direction, quality of animation and sometimes the attention to detail are what pop to my eyes.
Not the draw distance (unless there is unbearably ugly pop-ins), not the resolution, not the amount of tesselation being applied, or anything of the sort.
Games like The Legend of Zelda: Wind Waker, Uncharted 2, God of War 3, Super Mario Galaxy, Flower, Mass Effect 2, and many others, are taking the crown for me as best looking games in my book. Not because of the technical intricacies of their graphics, but because their direction, animation/attention to detail and art styles are top notch and above anything I've seen to this day.
Heck, I've never felt Crysis was impressive. And I run the game on its maximum settings. Sure it can do all those real time effects and has near limitless folliage and very far draw distance. But its designs, art style, look bland and uninspired to me. Proof to me that pushing technology just for the sake of it isn't really worth it.
Just because a game isn't using the latest DirectX 11 effects, and runs at a 2560 x 1600 resolution at 120 fps doesn't mean it can't look as great as a PC game. In fact, most PC games (those that aren't multi-platform) that I play just don't have that kind of flair that console games have, visually speaking.
To reiterate, it's the developers that make the diference. Of course, if a game is available for consoles and PC and you DO happen to have a decent gaming PC, then go for that version, unless your friends are all on consoles.