A PC can still not keep up with the raw power of the CPU's in both 360 & PS3. Even crippled as they are, they can show graphics the PC cannot handle. Perhaps it's just because the PC architecture is inferior to theirs, but...
No. PC Gaming is not dead nor will it be. But I do prefer the games on the consoles as they will run flawlessly and what's more is that you don't have to upgrade all the time.
I have to disagree with you here many games that come out on both PC and console the PC version is better depending on the hardware that you buy.
Consoles always tend to be behind PC technology as they seem to depend on the current PC technology.
In terms of architecture I personally think that everything can be done on a PC the same way it could on a console but its the way the hardware is being used.
For example
PC usually has an OS installed and a fully blown one that does a lot of different tasks that usually is a bottleneck before the game has even started.
However a console usually only has a mini OS enough to power the API hence the power can be taken be taken advantage of Directly.
But all in all PC's still have much more power than even the latest consoles like PS3 and Xbox360.
Oblivion PC vs Xbox comes to mind and depending on the hardware.
I mean I was playing games that had similar graphics to Xbox360 when Need for speed most wanted came out.
Try Need for speed most wanted on a Budget PC say Athlon 64 3800+ with a 7800gt graphics card you'll get to ramp up the graphics to full capacity and you'll get 60fps.
Compare the Xbox360 version and you'll only get around 30fps and while thats decent its a far cry from the 60fps that PC owners get I also found that the graphics aren't quite as good, I noticed anti-aliasing issues with consoles even the latest ones. However with PC's if you have the hardware can look super smooth.
In my own opinion PC's can't really be compared to consoles since consoles are meant to span 5 or so years and while console owners think the graphics are amazing PC owners by the say the third year into the consoles life will be experiencing graphics that console owners consider next gen.
Theres also the price factor of comparing a 3000 pound machine with a general purpose games console
I do like consoles though as a single platform software developers think of new ways to push that particular hardware and as a result graphics look better and better towards the end of the consoles life.
However with PC technology changing all the time the hardware never really gets pushed all that far.
Last note since i read your other post in this thread PC's are HD as standard its
only recently that console gamers are catching up but PC gamers have had the priveledge to be playing games with resolutions far beyond 1080P for ages now
1600x1200 games look amazing.