I agree with some others, the question is worded poorly. In some ways, PCs were already faster than the best consoles when the current gen launched (Speed & amount of video memory, faster CPUs). Certainly the games at the time were for the most part sub-par. This though, is also subjective. Certain games are better suited to run on a PC than on a console, and the reverse is also true. On the PC side, many games are starting to exploit running in a high resolution. These don't lend themselves well to console ports (look at morrowind on the xbox as an example). At the same time though, games that are designed to exploit the strengths of a console can very easily look more advanced than what is out for the PC.
What we will probably start seeing imho:
Consoles are going to be much better integrated than PCs. Optimizing buses and memory architectures to be more efficient will be their primary advantage. PCs will probably end up surpassing them in memory bandwidth, cpu horsepower, gpu horsepower, and in most other areas. Still, PC bus design typically seems to grow at a slower rate than PCs do in general. Things that depend on a fast bus between the cpu and gpu will probably be done better on consoles. Things that can be done primarily on the GPU (AA/Aniso, anything computable by the GPU) will probably be done faster on the PC.
Games will probably be more advanced for a while on the consoles, but with less things like AA, Aniso, and high resolution.
Nite_Hawk