Extraordinarily? No. But the difference between a PC that can run current games efficiently and one that can't is at least the price of a good video card, good sound card, and an up to date processor. I use computers to read and troll the internet. $300 at the most. I'm poor, PD. The only reason I have a 360 is because a friend was cool enough to buy me one, then let me pay him back in a few chunks.
I used to play on the pc but haven't for years. A few years ago I was supposed to have hernia surgery. I was told by everyone that I'd be couchbound for a couple of weeks, so I stocked up on books, DVDs and bought a PS2 and some games off CL for like $50. Pretty well hooked me on the console thing. When the thing crapped out, I took an assload of books to the store and got store credit to buy a 360. I never buy games new, tho. Ebay is my friend there. My only complaint is you can't stream YouTube. But beyond that, it's a darn fine console.
Latest purchases have been Left 4 Dead 2, Bloodstorm and Homefront. I like 1st person shooters.