The PC has always been able to outpace the consoles. The screenshots of Crysis that shio posted don't even do it justice. It's an amazing looking game. That being said---
The days of PC exclusive games like Crysis are over, and that very game is a good example of why. At the time of its release, I was still a PC-only gamer. Crysis was being hyped up as the next greatest thing in PC gaming. It was a shining gem among a whole bunch of other PC games that were just ports from the Xbox 360. It was something that only PC gamers could have.
But then the game came out and nobody bought it. Not only that, but it wasn't very good. The graphics were amazing. They ran like a slideshow even on the latest and greatest video cards, but they still looked good. But even Crytek admitted the game was only about 3/4 polished when they released it due to pressure to release. That was about the time when I started looking around me and noticing that every game I could play on the PC was available on the consoles. And before you say, "Yeah, but PCs get better graphics than the consoles, even though it's all the same games." Yeah----not so much these days.
Developers don't really bother to do anything special for the PC anymore. The first thing that started to bother me about PC gaming was that there were very few exclusives anymore. The second thing was that a lot of the multiplat stuff (especially if was made with Unreal Engine 3) looked like it was just an afterthought for the PC. No anti-aliasing on Rainbow Six Vegas? Puh-lease. Don't tell me my $2,000 gaming rig couldn't have handled removing the jaggies from that game. Ridiculous.
Anyway, I started to realize that if I'm going to play all the same games, and they're not going to look any better on the PC, why not just get a console and play stuff on my couch? I already had an HDTV, so I didn't even need to consider that as an extra expense. I have paid less for my PS3 and 360 combined than I did for my last graphics card!!! (Yep, that was the price of the 8800GTS on launch day.) The only thing I felt was lacking on the consoles was playing shooters with a controller..........until I played Killzone 2, that is. The controls on that game felt like it belonged on consoles, and I finally realized that I can get pretty much whatever I need on consoles. I will never buy a gaming card for a PC again.