My take on this whole discussion is that if you get a 360, you can game for a couple of years easily.. plus Natal will be out around 2012 is what sources have said so that's an added bonus. Plus its cheaper and (apparently) has a lot more dedicated titles than the PS3.. A lot of the Playstation's old dedicated titles came over to the Xbox (seen E3 this year?

)
Of course, PS3 has a lot more power and is a lot costlier. I haven't personally played it but I've heard it's really good. But honestly, I think the XBox is better for it's price and game collection. I have a PS2 and yes, I'll miss God of War 3 but hey, it's the last of the series (and the only title the PS3 has all to itself that I'd like to play). I'm sure Bungee will come out with a million more Halo titles because it's a cash cow
I'm not that into games.. don't flame me for my views but they are what they are.
PCs are great for games but I really hate how you have to upgrade after every couple of years. As for haxxed games, you can get them for PCs and consoles (at least the xbox 360. not sure about the ps3) Plus, I have more fun playing
most games on the console. It feels more comfortable sitting back on the couch and having fun as opposed to sitting close to the screen using the keyboard/mouse.
Those are the only 2 considerations for me. Upgradability and comfort of a console. The haxxed games really aren't a concern looking at the number of games I actually play. The casual games you can play on your PC because it is quite good to last for most games at a casual level. For ones you want to be hardcore involved with, play them on a console
Just my 2 paise on the topic
Addition: Oh also, the xbox is insanely costly here as compared to other countries.. may be tax.. may be whatever.. it's utterly shitty.. Get a deal from some one.. TE has decent deals (Look for prashaant on the forum.. Dealer's Paradise section) or try to get someone to carry one into the country while coming in

A lot cheaper.. plus you can have the XBox 360 Elite instead of silly Arcade

Pros are already out of production anyway.. Of course, carrying one in does have risks with customs and shit.. not sure how much customs is and if it comes out to be cheaper

But they don't always see that stuff..

Do the whole carrying in thing at your own risk.. clear freaking disclaimer
