I have to agree that the advantage of owning console far outweighs PC gaming but for graphic, PC may be almost untouchable, however it puts me off because:
1) ££££ and the last straw was when Nvidia came up with SLI solution!

I mean, it did no justice for budget gaming system & the cost of high end PC gaming rocketed, pushed budget gaming system out of developers radar.
2) Poor gamepad/equipment support - buy any gamepad and it is almost certain that it is not going to work 100% correctly with your game - poor rumble effect for example. Note that Microsoft had stopped making gamepads, they should come back and continue making them especially that they're responsible for DX10.
3) Configuration/settings - especially on mid range & budget gaming system - the hassle of tweaking to improve fps performance for playability
4) Lack of variety - I saw recent line up for 2007 games for PC; lots and lots and lots of FPS games!
5) Raw deal - I feel that PC gamers are paying too much for a graphic card. One time I paid £177 for Geforce 6800 which was mid-top end card, only to find lorry loads of rubbish games bundled with it! I had a feeling that they should have leave bundle out of it and reduced the price.
6) Poor coding - Need I say more?
If Microsoft is that KEEN to make PC gaming more enjoyable as they possibly can then why do they stopped making gamepad?
Graphic manufacturers make money out of PC gamers by selling graphic cards at ridiculously high price and then, kicked our teeth by licensing graphic technology to consoles platform at such a cheap price. Xbox 360 for £200 as an example, probably fraction of it is in graphic while on other hand, selling us a similar spec card for maybe £150!
I have seen enough that manufacturers/developers can't be arsed with PC gaming, thats my feeling.