The technology argument is old... The current generation definitely has more to offer than an average (yes, there are more powerful PCs, but on PC too developers have to work with the lowest common denominator) gaming PC. It's just that you have to develop differently for consoles as the argument "your PC is too slow" won't work. Many people marvel at Crysis (can't say I agree), but how many people can actually play this game with acceptable settings?
Crysis runs pretty well on a cheaper rig, actually... you just need to dial down the settings. My father-in-law plays it and his computer is by no means advanced or high powered, he just plays it on low in 800x600 resolution.
In any event, the arguement over who would use the higher settings is irrelevant, I simply stated that console versions of newer games hold PC advancement back on a technical level, and there is no real way for you to argue otherwise. History shows a strong trend of games pushing boundries and moving graphics technology forward at a much faster pace before the Xbox introduced PC-style games to consoles and PC games all became ports. Look at Doom 3, which was ported to the Xbox a year after its release and had to be massively scaled back to function. Today, Doom 3 would have been made with the Xbox in mind first, and would not have looked as stunning.
The fact is that Crysis on high looks drastically better than anything on console and is perfectly playable with modern video cards, yet we see no other games challenging it. What the percentage is of people who could play on those higher settings neither of us knows, but it's not the point.