i used to have every console up to and including the dreamcast. after that i became a bit disillusioned with consoles... sega promised so many PC games on the DC and then never delivered... but it was these more complex titles that i wanted... so i started building a PC, and i have never looked back.
sure, sports games are better to play on teh consoles usually, but other than that the PC is perfect. no subscription fees to play online, more or less every game has multiplayer (which extends teh games life), and the technology is always state of the art. the PS3 was outdated before it launched... and sony calls it "next gen" and charges 600 bucks for it.
the downside with the PC is of course that it is a rather expensive hobby, but the machine also serves as my movie player, web browser, emailer, and so on; so i think it's worth the money.
i do have a PSP, which i bought after trading in my old DS. the DS is a piece of junk, there is only a small selection of decent software and all of that is crippled by the machines lousy specs. the PSP's library is better, and you can watch movies/play movies when you get bored wit gaming, and as a movieplayer it beats the old palm tungsten i used to carry by a long shot.