I bought a 1400 pounds computer in 2010. I can run all games at 60 fps, 1080p in maximum settings. The only thing that put my computer on its knees was the ubersampling setting in the Witcher 2. I upgraded it 2 year later with a HD7970 that I bought 350 pound.
Take into account I have a 200+ games library on Steam since 2007, and I barely bought full price games on it with all the sales. And full price on PC is much less than full price on console ^^
I'm now going to get another computer in anticipation of tech hungry games like The Witcher 3, Star Citizen, and I'm going to spend 2000 euros on it (because VAT for electronics products in France sucks)
Also, a lot of console only gamers on this site still claim that PC gaming requires a lot of tweaking in term of drivers and so on. It's not the case for me. My biggest problems was tinkering with effing GFWL, because some ignorant asshole at microsoft thought unifying Xbox Live and PC gamers was a good idea. Or looking for Durante's fix for Dark Soul. We're not in 2004 anymore, when Doom 3 was released and the videocard to run it on ultra had not been released yet ^^, or when we all had to change configuration because everybody wanted to play Crysis. Also, the consoles hardware have migrated closer to a PC architecture, and PC games have now much more in common with console games because devs build multiplatform games for production value.