Pros to consoles
Easy, and -almost- hassle free set-up.
VERY easy to join up/play with friends(This is the reason why I got a console in the end)
Controllers are nice
You stick the game in, -maybe- update it, and you are playing like a baws BD
SMALL, and quiet. (Just try sticking your computer on your entertainment center, and have it look nice)
Pros to computers
CHEEP games. Sales are amazing, on actual GOOD games(Not talking years later either)
Having a nice computer(A comp is a lot more useful than console.)
No upper limit on power(Graphically, and speed)
Cheerer to repair when something breaks
An outrageous list of games
Not as expensive as most people think. The comp I am on right now can play Titanfall(On lower settings, but still looks great, and has very playable fps), and would only be around $250 if I wanted to build it part for part again.
Being part of the master race(j/k j/k)
A good, but relatively lower end set-up
If something breaks, you're **** out of luck
Uses disks for most of the games still
Privacy issues(Looking at the XO here)
A much smaller game selection
Only has the few uses
Can be a HUGE headache to set up, and maintain software-wise(I've had to rebuild my start up twice because Microsoft messed it up)
Is actually very expensive to repair if you don't have the knowledge to find out, and fix the problem(Bestbuy will charge you $50+ for some common problems that take 15min to fix)
Can actually be VERY expensive to buy(But no one is forcing you to pay $3000 for that super computer when a simple $600 works)
The almighty VIRUSES
Some horrible OS's(Win8)
Some games don't use a controller when they feel like they should(Most of the newer ones are better about this though)
Not as -friend- friendly. Little split-screen games, and it's more of a pain to join up with people
It often takes work to get some games to run(It took me an hour to get Bioshock 2 to get running)
All in all, I have only hit a small section of both sides. For me it really comes down to taste, and what you want.
I ENJOY fighting with a game to get it working at times. Seeing screen tearing drives me up the wall whenever I decide to boot up whatever console I use. I love having something that allows me to multi-task between games, and lifework. But I don't like the "disconnected", and oftentimes down right asshole community computer gamers have. But I enjoy having friends on several sites/skype that I can talk with while in game.
Consoles are amazingly simple, and I enjoy picking up the controller after a day at work, and hopping into a match before my computer has even loaded the game that I want to play from a dead start. Being able to swap jokes(or insults haha) with the other team after the match. And then jumping right into a dvd when I'm done playing right in the living room, all the while, never hearing the actual machine itself.
Consoles: Easy, and simple
Computers: More tools, and much harder to use if you want to use those tools.
If I had to pick between my console, and comp, it would be my computer any day.