It's a really weird position at the moment, for hardware across all platforms.
The PC has never been as cost effective as it is right now, you can build a system that surpasses the power of the 360 and PS3 for peanuts, yet in the past this was not possible, you couldn't build a cheap and powerful PC that would match or beat the equivalent consoles at the time, stuff simply cost way too much.
This is what happens when no 'next gen' is in sight, PC hardware has completely eclipsed the console hardware far quicker than any generation before to the point where a not even considered mid range graphics card (8800GT) is considerably better than what both the PS3 and 360 are capable of.