I thought about and actually I was a PC gamer for a loooong time , a decade to be precise from RIVA TNT2 till Geforce 8800GTX but these are some of the points which made me switch to the dark side

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a) Too costly: I do agree that ATI 5850 would be about 16K but PSU is what caused my old card to fail , thus adding a Corsair Vx550 would shoot up the cost to more than 22K for the combo. It is about 8K more than Arcade XBOX360.
b) A lot games which I would like to play like Halo 3 ( don't flame me , I like cotana ) , GOW2 , Ace Combat ...etc are console exclusives. Also many up-coming games like Dead Space 2, Alan Wake are also exclusives.
c) I love racing games and thus I would need to buy the PS3 for the GT5 ( along with a GT25 wheel) when it is released thus it makes no sense to have XBOX360 + Power full PC + PS3 + Wii ( which I already have).
d) PS3 and XBOX 360 are mutually exclusive as a lot of games are specific to one platform or another. Thus is is best to have both if possible , this leaves the odd man PC out.
e) I am getting old and boring and do not seem to have the patience to keep setting up everything , patching, Driver updates ...etc , with consoles I can format my Windows in my PC and move to Linux completely which is where all my work is.
f) PC runs more queitly without a Massive card and the whole room is more silent now.
g) XBOX 720 is not due till at-least 2 years away ,maybe even more. Even then adoption rate for a first few years would be slow.
Thus console it is. Most probably a modded 360 and a PS3 Slim.