If you have the money to keep PCs upgraded to run the latest games>Consoles
If you like having the ability to modify games to your liking, and enjoy an almost constant inflow of user-created content>Consoles
If you get off on the fact that you're using a mouse and keyboard>Consoles
I used to love playing on PC. I still might if I had a gaming rig... and a nice computer desk and chair.. but I don't. I bought a 360 last year, and I'll still be able to play games on it years from now. I can also download movies if I want, and in HD, and play them from the console... Then again, I could just keep having my ip switched to use rapidshare for free.. and watch them on my HD set via a VGA cable (I do this, too).
I think it's a stupid argument, honestly.
Consoles are a one-time investment, usually, hardware-wise. While the tech will lag behind the PC, games will still be developed to take advantage of that older (but still quite functional, and good) technology. PC, you'll be lucky to play the latest games in a couple-few years. You'll have to add more ram, buy a new graphics card, maybe add more GBs to make room.. maybe buy a whole new CPU. Maybe buy two more moniters so you can do the whole triple-head thing
If I had the money, I'm sure I'd be back on PC.
But I just really can't compare it.
Also, to whoever said it's basically wrong that FPS are on consoles.. you're whack. They're all I play. I've played them on PC and console, and quite frankly, they're both fun.