The PC vs. Console debate will go on for as long as they both exist, and I think it comes down to what each person prefers. Some prefer an ultimate value and simplicity, and then go for a console. Those who prefer to have the best graphics available and the utmost flexibitity will run towards the PC.
There are a couple of reasons I like the PC. First is the keyboard and mouse, and while you can use both of these for many games on the console, none of the games were truly designed for it. On the PC, you have some fantastic FPS games that are designed with that control scheme in mind, and for the most part, gameplay feels far more natrual than with a gamepad.
Another reason is the modding and hacking ability. On the PC, it's so easy to dive into files and change values, or download full mod-packs for games. Just take a look at how many Total Conversions there are for games based on the Source engine... it's staggering. You can't get anything like that for a console.
Then there's the ability to crank up the graphics levels, and get some gorgeous gameplay. On consoles, you are stuck to a low resolution and lacking AA. If you have a decent monitor on the PC, most any current GPU is going to be able to exceed the graphics levels on console games, with ease. Things change dramatically with the high-end. Sure, grabbing a 30" monitor and using 2560x1600 on a high-end GPU configuration isn't going to be for everyone, but at least the option is there. The PC is definitely scalable, whereas the console is not.
There's a reason I own consoles and a PC though... they both have their pros and cons.