I will not touch on hardware since unless you are a hopeless obstinate, a very decent pc rig that can play most games at very high settings can be purchased between 600-1k. Note that a pc playing at medium settings already look better or at the worst case, about equal to the best of console settings.
Most importantly,
* PC games have much longer lasting value than its console equivalents due to mods.
* Cheaper when you consider we usually get things for free which the console gamer has to pay.
* The PC has the best backward compatibility.
*The PC has the LARGEST game library and if you include the casual games + flash games...its a one sided massacre if the consoles try to compete.
* The PC could even play old console games through emulators. Some may be harder to achieve but most importantly, it CAN be done.
* The PC is most versatile with regards to control mechanism, it uses ALL. (Flight stick, steering wheel, m+KB, control pads, etc).
* The PC is the best media/entertainment platform.
* Spending to build a capable gaming rig also gives you a powerful workstation that allows you to do graphic editing, video editing, sound editing/engineering, almost anything you can imagine. Best bang for the buck, anyone?
* Heck, you can even earn some bucks doing some freelance work with the PC.
While some points may fly over the heads of consolites, the best and most simplest reason is that with a good pc, you can play your great pc exclusive game, while running a vid compressing prog at the background or whatever you are doing, and if the urge comes, easily alt-tab to System Wars, shoot some incendiary rounds and owning a horde of unwashed consolites and then happily alt-tab back to continue enjoying your deep PC game. Can consoles do that? :D
mirgamer
exactly, I always have a game open say Frozen Throne, PS4 and picasa resizing / editing pictures, firefox with 10 tabs news facebook PANDORA engadget etc, utorrent, and pidgin open meanwhile on a console you can play a game hardware only needs to be upgraded every year at the minimum unless you are a PC fanatic plus online deals on video cards, ram, processors are so abundant that i would hardly call it expensive 
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