I prefer console gaming myself, for me, simplicity is desired. I just turn it on, put the disc in and play. I never have to do any upgrades at all. Graphics aren't everything you know. The console will generally do the same things at the PC will do, mainly with less graphics, which really doesn't bother me at all, I have just as much fun playing it. I pay about $300 for the console, and all I really have to do then is get the games, when you think about it console gaming is the cheaper option. I used to PC game, but, when my video card broke in 2006, I couldn't afford to get another one, since then my PC is too old now anyway, and even if I could afford it, I would rather save the money anyways.
Not so
In Australia I can buy a brand spanking new PC game for $80 I can buy that exact same game on the 360 for $120
On average i'll buy 5-6 brand new games a year this will cost me $480 compared to $720 I have already saved $240 right here.
Now I might upgrade my graphics card once every three years and even them i'm not going to go all out I can pick up a decent card for about $186 http://www.staticice.com.au/cgi-bin/search.cgi?q=gtx%20460&start=61&links=20&showadres=1&pos=1
so that's the amount of money i've saved($240) x how many years i've been saving this money (3) - price of card ($186) which equals $534
So after three years i'm $534 better off than a console gamer and I can still play with a fairly powerful card
edit: or the total sum after three years
PC:
Buying games: 480 x 3= $1440
Upgrade Card: 1440 + 186= $1626
Xbox 360
Buying games: 720 x 3 = $2,160
i'm not bashing your choice of gaming platform like you said different strokes for different folks, i'm just debunking that Console gaming is on the whole cheaper