Usually, the initial price of a custom built PC will be higher than a console. The benefits are returned through the sales, both DD and retail(getting games that were originally $50 - $60 for $5 - $10 and such) if you shop right.
One argument I usually don't see in these types of debates is the value obtained for a certain price. I don't mean comparing the prices of a PC and a console, but rather determining if X value for a console is less than/greater than/equal to Y value for a certain PC.
For a second, let's assume there are no custom-build PCs and that all of them are manufactured in some way. If a PC that came with a blu-ray reader, 120 mhz monitor, supported eyefinity/multiple monitor output, supported 3D, had amazing parts, did all of the good stuff PCs do now, and had a 2 TB hard drive that all cost $500 (only used as an example price), then the value for the PC is much better than the console. Now assume if a PC with the same specs and features above costs $2100 (example price again), then the value of consoles would be better than a PC. The same argument can be made if the two PC examples used above had really bad parts instead, but at different prices. Is the value good for its price and its features?
This argument could also be used for consoles as well. Is the better value received when the original PS3 was at $600 or when the original Xbox 360 was at $400 - $500 (I don't remember the original price for the Xbox 360). The consumers that chose the Xbox 360 received the better deal, but did they get their value's worth out of the money they paid? (This is rhetorical, no need to answer).
How I see it, it's difficult to compare prices of two different types of machines without considering value. Everyone knows about all of the basic functions of a PC (music, homework, social networking, videos, graphic design, work, etc.). It's so easy to say that a PS3 is cheaper than a PC, but is the value on an equal level or different to a PC of a different price? It's similar to saying someone buys a car for $20 while someone else buys a different car for $750. The first person receives the better deal, but is the value received properly?
**I am in no way saying consoles are bad because it often has lower initial prices. I am mainly speaking about value received for the price payed.**
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