What's important to remember about a console is that it only needs to push a single 1080p panel display, whereas you can be dual screening or triple screening on a PC or using much higher resolutions than 1920x1080 on a single display let alone multiple.
Unless you want $600 consoles to make a comeback, it seems pretty silly to compare the power of consoles directly to PC (percentagewise or with a median average) because they do very different things.
I think $600 is too much but I would have preferred beefier $500 consoles. Had Sony and MS given them perhaps 12 Jaguar CPU cores instead of 8 and bumped up the GPU side of the APUs to 24 working compute units rather than 12-18 I would have been a lot happier with them even at $100 more. And they would have been far more future proof as well. And considering that games have to be installed the HDDs should have probably been a terabyte.
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