Here's my take on it, although I might just repeat what others have already said.
Noob friendliness:
Consoles are easier to get into. Controls are simpler, all you need to to is stick the disc in and overall, the games are more casual. Even my grandma can pick up a fighting game.
Price:
No contest here, a console is cheap and will last you for the entire duration of that console generation. All you need is a good TV and a few batteries. No need for upgrades, all games should in theory move great on it. On the other hand, there are so many things you can do with a PC that gaming can be the last reason to buy one. So most people don't even need to buy a console because they already cave that spreadsheet monster on their desk. And there are tons of good simple pc games that don't require good hardware. Plus there are so many old superb games that there's no need to upgrade for years and years. I bought my PC for gaming 4 years ago and it's going strong, as PC tech has slowed down a lot in the last years. Still, for gaming only, consoles win.
Game library:
As fond as I am of PC's, there are already soo many console only games, that I feel tempted to just buy a damned console. Red Dead Redemption, Catherine, God of War, the list goes on and on. But I've owned a PC since I was 7, so I have 21 entire years of using a mouse and keyboard. 21 years of awesome gaming history. I can't even imagine my life without flight sims like Falcon 4 or the new DCS Warthog, or strategy games like Rome Total War. On the FPS side, I've played everything from Doom 2 to Thief, from Dark Forces to No One Lives Forever and beyond. History aside tho, recent PC games have left me in the cold. I'm also older so I might not have the same interest in wasting time anymore.
Future of:
Consoles are on the rise and have always been like that. They get more and more exclusive titles. PC's have become a last thought port platform. However, PC's are still the first place to find superb indie games like Minecraft, and immersive RPG's like Elder Scrolls. HOWEVER, if Windows 8 will really be able to play any XBOX title (even older ones), it will open up a huge supply of games for PC's. PC's have done more for the console industry than viceversa, pushing up hardware technology. Even now, PC's are so ahead of consoles that it's impossible to imagine the death of PC gaming. We're still years away from photorealism and future Virtual Helmets will at first require the mammoth power of PC's. There will be a point however when DRM and technological slowdown will push us towards consoles, as they will finally get the better controls, surpassing ye olde Maus Und Keyborden (I don't know german).