If you're looking for MMO's the PC is where to go really.
The conoles don't have much to offer in this regard.
Guild Wars 2, Terra, WOW, Rift, and a ton fo others are/will be free to play and offer a ton of fun gameplay.
Also, most of these don't require a killer gmaing rig to run. Upgrading your current desktop with an $80 vidoe card might be all it takes. even building a chepa gaming rig from scratch for MMO's can be done with $400 or so (go with AMD's APU's - should serve you fine for 720p gaming).
I don't know why people are ocnvinced you cna only do one or the other. I know plenty fo people that game on both their PC's and their consoles. Neither the PC nor the console police with storm your house if you do that, I promise! ;)
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