i think both have their advantages and disadvantages, but i don't think there is much question that PC is the more "powerful" of the two - consoles just cant compete with the amount of RAM and newer cutting edge graphics cards which are continually being developed (when a new gen of consoles come out they are the big boys for a while but quickly the PC reasserts itself)
one of the defining factors of PC's is that they can be upgraded whenever so they can always be improved upon, and its not as expensive as people think to have a decent PC if you are prepared to take the challenge of building yourself. i did and enjoyed the whole process. but the lower cost of a single console is a factor in why some people prefer them. although if you want to play ALL the console games you would need to buy all three consoles, costing at present about £700 which was what my gaming rig cost me - and thats not including a HDTV. and the games are a lot more expensive on console too; £35-£40 compared to £20-30 (and usually you can get deals like 2 for £25 on PC games)
building and maintaining a gaming pc isn't for everyone though, so in those cases the accessibility and ease of use of consoles would become more important. i used to think that way, but these days consoles seem to be more of a pain in the neck - i own a 360 and wii and both have broken within 18 months.
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