But the only way to really compare the two is in a holistic manner. Without including the costs of using the console, through its life, it just isn't a fair comparison.

I totally agree. Part of the reason I’ve not made the leap yet is that gaming has become less and less important of a part of my life, and that initial cost has been enough to dissuade me generally speaking. Also if I’m being honest I really like the “plop down on the couch and use a controller” console experience. But I’m realizing more and more that I just need to bite the bullet and I’ll appreciate it in the long run.