PC gaming is better for some very simple reasons. Keeping in mind "better" being relative to my opinion, and the fact that I hate sports games. Though I do find racing games to be perfectly viable on a PC. I had a lot of fun with NFS Underground.
Reason #1: You have more control over your gameplay. The setup of your system, directly impacting performance of the game. Type of controller input. Controllers are perfectly possible. As are novint falcons, keyboard + mouse setups, REALLY AWESOME keyboard + mouse setups if you're willing to pay a little more, etc. You cannot do this on a console. You've got your system, and if the game runs choppy, well then it runs choppy. And this does happen. Perhaps not often, but it does. On a PC? Finding the game running a little slow? Go buy another card. You upgrade - and you gain performance. The CryEngine everyone's freaking out about that's supposed to be used in Crysis 2? Yeah, it already looks like that on a PC. The consoles...can look great. But PCs can look greater. (More on this in Reason #2.)
Funny thing, a lot of times when you upgrade your console - you LOSE access to a lot of your older games! My goodness. Hard to believe 'eh? Unless you want to lug around your old PS2, good luck. Not very often that happens on a PC.
Reason #2: Mods. Mods, mods, mods. The Elder Scrolls IV: Oblivion? One of my favorite games of all time. And I still play it a ton. Get in some high resolution texture packs, and it's textures look better than 90% of modern games - and it's 3 YEARS OLD. That is awesome, completely and utterly. You've got mods that redo the entirety of the game. New clothes, new models, new armor, new quests, new continents, new factions, etc. You also have access to bug fixes console users don't, which can be incredibly helpful.
Let's list off a few games I play that I've had to (or have chosen to mod).
Elder Scrolls III: Morrowind, Elder Scrolls IV: Oblivion, Mount & Blade, Battlefield 2 (config file tweaks to fix some bugs), Halo, Far Cry, Fable, DoD 1.3 (sound pack, yeah!), Half-Life 2 (bullet time mod, awesome stuff), the list goes on and on... Console users don't like the fact that they go bald when their evil in Fable? Too bad, they have to deal with it. Oblivion players don't want to look like crap when they're a vampire in Oblivion? Shame shame. Got a bug in a quest, and the developers won't set you up a download update? Tough luck. If you were on a PC you could just console your way through it.
Reason #3: MMORPGs. Sure, you can theoretically do them on consoles...kinda. Kinda, maybe. But PC gaming will be dominating the MMORPG genre for a long time. And for some people, that's all there IS to gaming.
Reason #4: A PC can do more than just game. But here's how it ties into gaming - third party programs. Not hacks, but things like VENTRILO! Sure you have some voice chat systems in PS3's online or XBox Live. But nothing like the freedom and beauty of Ventrilo or Teamspeak. Or let's say I'm playing a single player game and I need to look something up. Alt + Tab to the rescue. Be it getting into a different Ventrilo room, responding to an IM, checking something on the forums, or looking up a console command...PC can get it done. Or let's say I need to record some footage to make a wicked video. A heck of a lot easier to do on a PC than a console. And it'll probably look better, too.
Reason #5: PC gaming is, in spite of ALL this...a dying breed. It's sad, but it's true. It's really cool to be a part of the "underdog" type of gaming, yes?
Reason #6: Oh, I also forgot. Most console gamers also own a PC of some sort, they're necessary for a lot of things. The way I see it, console gamers can't claim they're saving any money when they still have to go out and buy a PC - even if not related to gaming. Because you see I, as a PC gamer, do not have to own a console for anything. I can do my internet, my games, my JOB, my socializing, my artwork, my research, my movies, hell even my TV - right here at my computer. Which covers all my gaming. And sure as hell winds up being cheaper.
Console users, cannot make this claim. And to do all of those things, need to wind up also buying a PC (not things like movies, but a lot of the others). All those who own both a PS3, XBox 360, AND a PC (many people here) spent a ridiculous amount more than I did on this PC - more than I ever will over the next 4 years on this PC. Console users, in the grand scheme of things, will at some point likely need a PC. PC users...in the grand scheme of things, will at some point...not likely need a console.
Consoles are for people who just want to sit down and play the games, without actually having much control over their gaming experience. It's really that simple. There's nothing "wrong" with it. But there's really not much going for it either - unless you count having hundreds of thousands of people who also don't care about anything more than BOOM HEADSHOT to be buddies with. Sure you can play most games looking pretty good at a somewhat decent frames per second. But it won't look quite as good, and you don't have the bug fixes and other benefits of a PC that directly affect your gameplay. Oh, and in spite of what you might think you read online - the human eye can tell the difference between 120 and 60 frames per second.
They're willing to boast about how they don't have to upgrade their system, yet their games can all become a mute point (unless you're keeping your old systems and rehooking them up) when a new console is released - their games generally cost more (though typically only by about $10), AND they can't mod or fix bugs in the games to extend the longevity of them - thus increasing the amount they're paying in relation to time gaming.
...sad...sad.