Actually, you have your information a little off, bro. While it's true you can't compare the 'usual' specs that the masses use to compare PCs to compare consoles, specs play a Huge roll in everything. The systems are architecturally different, so certain specs are more important on one than the other.
Also, you are so Completely incorrect in stating that the same piece of hardware works better on a console than a PC. That makes absolutely no sense, and just shows that You are actually the one that doesn't know what he's talking about. Consoles don't use off-the-shelf pieces of hardware. They have hardware CUSTOM BUILT to utilize what they need. They don't to stockpile processor GHz like a PC does, they need cache size. So they get the companies to make them a processor like this.
Consoles work differently. They're cheaper for that reason. Microsoft buys Xenon processors in bulk, 'passing the savings on to you!'
You're also very misinformed on your pricing.
When the Xbox 360 came out it was almost 500 dollars. At that price, it was about a hundred dollars cheaper than PCs. That's cool. These days, it's 200 dollars. That's cool, still cheaper than PCs. I wholeheartedly admit that, consoles are the bargain bin of gaming.
However, I just built a computer for a scant 600 dollars. 3ghz quad core processor, 8 gigs of ram, couple hard drives, 550ti graphics card. Add in all the odds and ends. Let's even pretend I bought an OS, for shits and giggles. We're up at 700.
So, I've paid almost 4 times the price as I would for an xbox 360. You might ask, why would I do this? Elementary, my dear kinggremlin! For you see, I've been playing Skyrim for the past number of months. It looks amazing! Realistic water, great reflections, beautiful scenery, even some good looking player models!
I went to a friend's house, and he started playing Skyrim on his xbox 360. I ligitimately asked him why he had his settings turned so low. "Skyrim doesn't have graphics settings" he replied.
I'll take my overpriced gaming beauty over bargain any day. Until I lose my job anyway.