I tried to read all the replies before posting but I couldn't do it. Three pages in I was so nutso about one constantly repeated theme.
My struggle with this concept at b3d specifically, is that most ppl here don't see any purpose to PCs which cost less than $700,which I think is crazy. When it comes to gaming, and to console transitioners in particular, $400 will get you plenty of PC. Especially now at the total ass end of this generation, a $400 PC will destroy a PS3 while simultaneously chatting with friends, watching youtube, and balancing your checkbook. And probably folding. I play borderlands with a project open in photoshop. It's only BL1, but it is a pretty large hi-res image with many layers. I'm too lazy to close it and my wife and I are playing co-op so I leave it open, also the web browser with ~100 tabs open and chat windows etc. BL1 is light by today's standards but it's a console port so it's a pretty obvious example. That PC is five years old, with a two-year-old mid-low graphics card, hd hell if i even remember, hd 5770 or something..? Anyway. Total cost, including mATX case with rolled edges and fans (I live in Hong KOng so the brand is FRESH NEW or something Chinesey), $450, including DVD. Replacethe HDD with an SSD and you're at $500. Total console killer,
probably faster than a WiiU, although due to optimization, WiiU titles may be slightly more efficient on similar hardware.
I generally don't think tiny, silent, or laptop gaming are worth the money unless you have a real need. If it's a must, then go for it, it can be done, but you are usually spending 2X as much and about 2X as prone to premature part failure. Of course there will be exceptions. Nobody bring up monitors or I will bite them and remind them that you don't factor in the price of a TV when you talk about console prices. Besides, do people still buy TVs? Why? ...I have a small apartment.
It's Asia.
There is a sweet spot for a few months when a state of the art console represents a real cost savings over a PC. The hardware is fairly modern and well-streamlined these days, the case is irreplaceable, and the controllers haven't yet been hacked to work on Windows. Unfortunately for consolers, during that first few months, there will almost never be any games worth playing for your console. Conversely, even as the price of consoles gets less and less "worth it", there will be more and more games which are console exclusive which are must-play games. So ultimately, the whole debate has almost nothing to do with hardware... at all.