A comparison done with a fine tooth comb reveals that they're on the same level, but different:
http://www.eurogamer.net/articles/digitalfoundry-masseffect2-face-off
Hardly, but they were dated within a year of course and the gap isn't as large as it used to be years ago between PC and console (mainly because consoles dominate the market). In 2005, Xenos was well ahead of most desktop GPU's both performance wise and architecturally (unified shaders, and eDRAM is a nice perk etc). The PS3's GPU was a gen behind PC at launch, but the few developers who got a grip on Cell in the first year managed to get technically impressive games like Uncharted, and Uncharted 2 later on was the year's most technically impressive game.
This gen is particularly interesting in the sense that developers got more creative (software engineering that is) on console, and in turn improving PC versions of multiplatform games too. For example, I believe the first game implementation of MLAA was on console last year.
Game library wise, console all the way for me