Coming from a long time console gamer and newly adopted PC gamer, i can tell you PC gaming is superior is just about every way.
• Graphics/Frame rate - Far far superior. Better, lighting, draw distance on customizable options
• Mods - I’m newish to mods but playing through Fallout 3 modded through the teeth, was an awesome experience. Vegas next, then Skyrim modding, can’t wait.
• Controller choice - I hate K&M, too late for me to get the hang of it. Can use both my PS3 and Xbox controllers with my PC with ease, and choose a pad which suits what game best.
• Game selection - Just a massive amount of games to choose from
• Price - Game prices are usually 1/2" the price of their console counter parts (although the system cost will be more/sometimes significantly more depending on hardware.)
• Upgradeability - Always on the cutting edge, not stuck with 6 yr. old graphics
• 3D - Pretty much useless on consoles, just don’t have enough grunt
• Choice of screen/Multi screens - I use my 50" Panasonic Plasma for all games and use my 2560 x 1600, uber resolution monitor for RTS games. Plus got the choice of eyefinity and such.
• Versatility - I use my PC for much more than just games, as opposed to consoles
• Access/Steam/Origen - Can buy pretty much any game I want, cheaply, without having to set foot outside. Download speeds are awesome, compared to consoles, so a 10GB games will be downloaded in minutes
• Sales – Steam sales are worth in itself, never bought so many quality cheap games for practically peanuts.
• Load times, practically zero load times, texture loading etc, thanks to superfast SSD’s. Fed up of waiting at a door for the next room/building/map to load.
Only thing that is better on consoles, is cheaper hardware (well nowadays anyway) but at release a £400 PS3 was hardly a bargain and a midlevel PC of better spec would have been similarly priced
Some consoles exclusive are missed, God of War, Snake ETC
Cons of PC gaming, as above, quite geeky