I have 2 differing opinions on the console vs pc for gaming.
1. EA is a company with shareholders that care only about their stock price/dividends. As such, any piracy of PC games (a smaller sub-section of the gaming market than consoles for "high profile new games") is lost revenue.
As such, the future of the PC (as we know it today) as a gaming platform, unless the trend changes, will be down the route of "second generation games." It cost much less to make a $30 PC game programmed for computers that were built 5 years ago (Example: The Sims lineage, including $30 expansions) than it does to make the "latest and greatest" work. (Due to drivers, DX, etc... all the things people have already mentioned.
Further, and closer to home for most of us, PC hardware advancement is changing from its previous norm. Instead of faster single thread performance on CPUs, we are getting increasingly multi-threaded. (IE: More difficult to program for.) Further, mainstream and low-end ATI and Nvidia cards... as seen in recent reviews... actually don't perform as well as cards of a couple years ago. (Yes, they run cooler and on less power, but performance wise...) As such, the PC as a gaming platform is not increasing in performance as quickly as it used to.
2. With the above said, what about people, like myself, that purpose built a Home Theatre/"Light gaming" multi-purpose PC for the living room for the purpose of playing PC games out of the "computer room?" Easy, we fit the "$30 game" norm... even though I may not like it.
In the console vs PC fight:
1. Consoles are typically less buggy. (Uniform design)
2. They are easier to operate. (Broader user market)
3. PCs, with the right amount of money and time, are better for almost everything.
In the future, if we changed to a mainstream gaming model of buying a new upgraded (and backward compatible) console every 2-3 years... from the current model of buying a new computer (or new video card, ram, and cpu upgrades) every 2-3 years... the "supply side" of the market (companies, and thus shareholders) will be happier.