PS3 = £299
Good PC = £500
Console games = £40
PC games = £25
Price of PC gaming after 20 games = £1100
Price of PS3 gaming after 20 games = £1099
Price of PC gaming after 40 games = £1600
Price of PS3 gaming after 40 games = £1899
So if you buy quite alot of games, such as i do - overtime PC is cheeper. You don't have to upgrade often if you don't want to, my friend is quite happy with his 2 or 3 year old rig and Q6600 + 8600GTS.
I just tested my theory of £500 for a good PC, and i was shocked at what i could get
for £509 i came up with this system, and it's even cheeper in america:
Gigabyte GA-G31M-ES2L (okay cheep mobo but it does its job for this build)
Core 2 Duo E8400
Zotac GTX260
Samsung 750GB HDD
OCZ 4GB ram
OCZ StealhExtreme 600W PSU
LiteOn 16x DVD Drive
Antec Mini P180 Case.
If i haven't forgotten something, that's very decent !