i too was one of those that was behind buying a PC over a console....until recently. i can't currently afford a PC capable of running the latest games at their peak graphics and without lag and if i could afford one it would only be a peak PC for a short time (all based off of personally experience)
with a console, especially the latest ones, the games are made specifically for the console therefore the graphics are aligned to the hardware and theoritically there shouldn't be any lag.
also despite the high price of the latest consoles they are still by far cheaper than a high end PC.
plus i have a $5,000 entertainment system to play the console on.....just need to buy the right console. right now i'm leaning heavily toward a PS3