Mm. Very much the same. Like most discerning consumers, I had many issues with all 4 of the 360s my family tried before swapping to PS3 ( thank you RRoD) and the PS3 has issues as well. I don't expect perfection, but much could be done better.
Just Valve ideas will be interesting to see.
As for the hardware argument, ah, yeah. Hardware is something I do ( did) and believe me, there has never been a significant length of time where PC hardware didn't outpace everything else. If you wanted to pay for it. With sometimes marginal gains.
Although those gains, Dragon, would and do spike upwards once you start loading the GPU up with demands for AA, MLAA, Tesselation, SSAO and so on. Then add high resolutions. To run at above 2560 with the above mentioned these days, you -need- some pretty beefy hardware.
If you're interested, Pris, the reason PC hardware is almost immediately better than consoles has nothing to do with righteous tech- love and everything to do with manufacturing cycles and production time.
In short, by the time your console hardware sees the light of day, production cycles have rotated onto something even better.
This may change with this gen a certain amount - both AMD/ATI and Nvidia are being MUCH less aggressive in their cycle upgrades. We'll see.