This game was developed primarily for consoles, so the PC version suffers from being a badly optimized port.
The PC version can look better and perform better, but only if you have a rockin' CPU. And even then, there is not guarantee it will be smooth. I have the PC version and have been able to achieve 30-60+ FPS by tweaking the settings. However, even at this framerate the game is not fluid. Scenery chops and stutters as you drive by, even at a high framerate. Same with cut-scenes. Odd considering hte framerate!
I believe the console versions also suffer from frame-rate issues. In general I think the console version runs at 20-35 FPS, with the PS3 version running a little slower than the Xbox version. Which version looks better is up to debate / personal opinion. I have no personally played the console versions, so I can not comment on how stable/fluid the game runs. I would assume they run decently smooth as I have not seen any major complaints, and because the game was probably tested thoroughly on console (and everyone's console runs the same, as opposed to everyone's PC being a little different).
So you decision comes down to price. You may be able to get beautiful performance with a very expensive PC (not much of a guarantee, I have read about people with enthusiast-level machines having perforamnce issues still). Or get decent performance (and probably more stable performance) for relatively cheap ($300 for an Xbox360 or PS3).
Console may be the best choice as its less expensive than a good GPU would cost, and will open up a large library of games to play on your TV. Choice of console would depend on what games appeal to you. I have a PS3 as the PS3 exclusives appeal most to me (I have not purchases a 360 yet as the games I would buy for it are also available on PS3). I would check out lists of console exclusives to determine which has the games you are most interested in.
So I guess I was a bit long winded in my response. Hopefully it was helpful.
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