I love seeing the elitists attempting to compare PC Specs. to Console Specs. as some kind of barrometer for the graphical and calculatory power of the machine. To give you an idea of what "6 Times More Powerful" means, let's take a look at the current Xbox 360 Specs.
(as provided here: http://en.wikipedia.org/wiki/Xbox_360_hardware)
The Xbox 360's CPU:
The XCPU, named Xenon at Microsoft and "Waternoose" at IBM, is a custom triple-core 64-bit PowerPC-based design by IBM. The CPU emphasizes high floating point performance through multiple FPU and SIMD vector processing units in each core. It has a theoretical peak performance of 115.2 gigaFLOPS and is capable of 9.6 billion dot products per second. Each core of the CPU is simultaneous multithreading capable and clocked at 3.2 GHz.
Have a nice i7 - featuring 8 Cores - in your machine? The Xbox 360 has 3 cores, and it's only now - seven years later - starting to reach the barriers of what it can do.
The Xbox 360's GPU:
...the Xbox 360 had a chip designed by ATI called Xenos. The chip was developed under the name "C1" and "R500" was often used to refer to it.[2] The GPU package contains two separate silicon dies, each built on a 90 nm process with a clock speed of 500 MHz; the GPU proper, manufactured by TSMC and a 10 MB eDRAM daughter-die, manufactured by NEC. Thanks to the daughter die, the Xenos can do 4× FSAA, z-buffering, and alpha blending with no appreciable performance penalty on the GPU...
This GPU has a clock speed less than half of a "Mid Range" PC Card in today's market, and has been handling all modern released since 2005. Crysis 2, Skyrim, The Witcher 2 - this card was so well designed that they're still finding new and interesting things to do with it.
But hey - you have a 1 GB Card, right? 2GB Card? Well, you probably also have higher than 8GB of DDR3 RAM as well, running on your 64-Bit OS, right? More than enough fast writeable memory for your machine to do anything! Well...
The Xbox 360's RAM:
...The console features 512 MB of GDDR3 RAM clocked at 700 MHz with an effective transmission rate of 1.4 GHz on a 128-bit bus. The memory is shared by the CPU and the GPU via the unified memory architecture. This memory is produced by either Samsung or Qimonda...
The Xbox 360 has less than 1/20th of your available memory made by the lowest bidder - it has
512mb of
shared DDR3 RAM for everything.
Now, let's take a quick look at the games industry today.
Take your biggest, prettiest title. In terms of raw demanding power, The Witcher 2 and the original Crysis are probably at the top of their game. Your machine probably runs them around 60fps mark with small loading times thanks to it's fast memory, assuming V-Sync and max settings of course. Everything else is generally designed for consoles first, making your expensive hardware essentially worthless.
Scaling what the Xbox 360 can do right now, compared to what the next one can do based off what we know, you'll need to upgrade your current High End PC hardware to something along the lines of 4 times more powerful to run the first generation Xbox 720 games.
EPIC designed and built a 6gb Video RAM system, running the absolute bleeding edge hardware for their demonstration of the next version of the Unreal Engine, as an example of where the technology will be for the next gen.
That system cost them over US$10,000.00 to build. The Xbox 720 will cost you less than the original Xbox 360 - US$400.00 at launch - and will run that tech demo at close to 60FPS based off it's currently known architecture.
Good luck.