IMO consoles will always dominate PC's in games. They're build specifically for that. But they just keep turning more and more into PC's.

For example: Xbox is pretty much a low-end PC with a really good graphic card:
CPU: Intel Pentium III 733-MHz
Graphics processor: 233-MHz, custom-designed X-Chip, developed by Microsoft and Nvidia
Total memory: 64MB of RAM
Storage medium: 2X to 5X DVD, 8GB hard disk
I/O: Four game controller ports, Ethernet (10/100)
Audio channels: 256, AC3 encoded game audio
3D audio support: Yes
Midi/DLS2 support: Yes
Broadband enabled: Yes
DVD movie playback: Yes
Gamepad included: Yes
Maximum resolution: 1920x1080
HDTV support: Yes