I think what you all don't realize is how simple mods can be and how much better than can make the game. Say in COD4 you hate Juggernaut and Stopping Power but love the rest of the game the way it is...with a mod you can do that on your server. Say you like helicopters but don't want kills from the helicopter to earn you another, mod your server and you can do that.All the fancy conversions and custom maps are just advanced things to add content to the game. Most of us rely on mods to fix the problems with the game. For example there is a bug that allows the m21 and p90 to run farther, the mod on my clan's server fixes that. There is a bug that prevents silenced g3 from knifing properly, the mod we run fixes that. We have also added spawn protection and anti-bunny hopping measures.
For a better idea what mods can do go to openwarfare.com.
Even without mods dedicated servers allow for much greater preference. We make our own playlists, we can play any gametype on any map at any time while remaining ranked and open to the public. We can play hardcore or softcore only from day 1, no ranking to unlock game types. Consolers should be demanding more options, not berating PC gamers for being unhappy at losing our options.