While I agree with you that we probably won't have another "1998," which had so many incredible games I could probably just play THEM for the rest of my life, I personally think that the PC still has plenty left in it before it's all thrown away to consoles.
The only real reason I'd switch to a console is for an exclusive; I'd prefer a keyboard and mouse for just about any game other than a 3D platformer (which still work with a keyboard and mouse, but it's personal preference). Or that they're easier, with "put in a disc and play the game" instead of the archaic rituals I would have to do for each new game I purchased, with a certain DLL not working, or some of the textures not loading, and the patch not applying, etc, etc...
And when computer games were that aggravating, and when my friends scoffed at me for actually knowing how to use DOS, that was when I could put in a cartridge and the shit would just work (unless I had to blow on it...)
Now it seems the role is reversed, with 360's breaking down, PS triples requiring installs taking several minutes, hard drives in the consoles, (yet they still don't let me save when I think I should be able to)...
Obviously, the PC has been dying to the "massive" audience it had, but it still has its role of "complex tactical RTS" and "fast-paced FPS" and, at least for a while until people realize that an MMO really -could- take off on a next-gen console, the "I need every button on my keyboard MMO."
As a former huge PC-only RPG person, I've gotta say that I've had good times with FFX and Shining Force as well as Daggerfall and Baldur's Gate. I haven't had the ability to play Halo Wars, but I have seen Supreme Commander for the 360, and I simply cannot believe the game was actually released the way it was. It really actually WAS a "threadbare silhouette" of what the PC version is. It's embarrassing to even think about, honestly. I really hope consoles get RTS "right," and I think the Wii is the system to start it on, but then I realize it'd probably hurt the arm, so it's back to the drawing board (or waiting for those new motion control systems, eh?)
I doubt you'll find any PC FPS that brings what Goldeneye 007 or Perfect Dark brought to the N64 (though No One Lives Forever was pretty awesome). At the same time, Consoles will never be able to have a Warsow, a Nexuiz, or any other open-source game/mod that's fast-paced and mouse-aim based.
I am a firm believer in the fact that certain interfaces are just better suited for certain playstyles, and although I miss the days that I had split-screen games on my PC, I realize that the one-TV multiplayer of today consists of FPS games I don't wanna play, Racers that I don't wanna play, Beat-'Em-Ups that would have ran in DOS, scrolling shooters that are too easy for my taste, or the one type of thing PC will never have done correctly: The rhythm game.
DJ Hero will not come out for PC, In the Groove was just a port, Guitar Hero 3's port was atrociously bad, and no Rock Band will come out for PC. Currently, that's pretty much it for recent ones, other than, say, Audiosurf... I think it is these type of peripheral-based participant-based games where having a couch to sit on and a controller to grab is really the best course of action, while I would never, ever find myself caught dead playing X-Com on anything but a PC. (Or a DS, hint hint, Nintendo...)
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I really didn't mean to write that much about absolutely nothing. I could have just said "I generally disagree, interesting read though" and been done with it.