PS3, IMO, the argument ends at GOW, but anyway here's why
-Processing power for the price... look what you get for sub 20K, and think of how much you will need to shell out for an up to date core i7/i5 rig
-The minute you put together a top of the line gaming rig, it is already old. The PS3 will be the best around for atleast two years or so, and still pretty awesome for another two.
-Games are way more immersive, controller easier than mouse+wsad+e/q/f etc. Compare games like Prototype and PoP on consoles and PC. Exp not better on the PC.
-When you put in a game, it will just let you play. You dont have to worry about whether the game will work on a particular config, whether the game is optimised for NVidia or ATI cards, whether the settings in the game will mess up the gameplay, etc. The list of problems that you could potentially encounter on a PC after making a purchase is endless. When you buy a game for the PS3, you will get to play it.
-Multiplayer gaming. You can turn and bash someone up when you lose, not possible over the network. ok, swearing at cybercafes is fun, but the configs suck.
If you are not looking at gameplay at all, and just wanna sightsee in a digital landscape, then yeah, the PC is better when it comes to graphics. Not only because of the realism, but also because of the games that show up are pretty versatile in terms of how they look. Any console game looks a little dated, donno why this happens, but I guess this is due to the release cycles. Does not make sense really, as it is easier to release a game for the console... hmm... anyway this is only for a top-end gaming rig though.