As the focus from hardware manufacturers continues to be towards taking small performance steps forwards while leaping forward with regards to power draw and TDP, I can see over the lifespan of the next gen consoles we will have micro sized units that will actually outperform the consoles, be cheaper to build with, offer far more features and also come in for a cheaper all round price.
If you are not a professional using high end PC hardware or an extreme game gaming at resolutions far and beyond that of 1080p then I see the next 2 years being very, very interesting indeed.
Motherboard - ASUS P5K Premium
CPU - Q6600 @ 3GHz - Arctic Freezer 13
GPU - Palit 9600GT @ Clock 750MHz - Mem 1100MHz - Shader 1850MHz
RAM - 6GB Corsair PC2-6400 DHX @ 960MHz
OS - Windows 7 Ultimate (64bit)