I could not let this stand unchallenged, even though it is off topic.
I do not know what penal system you are referring to, but your points are hardly true for any, especially not the US penal system.
Life in prison is by no means a relaxed life, even if extreme measures were to greatly improve the security threats of prison life (if even possible to completely eliminate them). The deprivation of a lot of elements come into play and it has severe social and psychological consequences. You will also have to adapt to the inside society and obey to a whole new set of rules, while loosing touch with the interaction that you use to define yourself on the outside.
The cost-risk analysis of a 'rich and risky life' vs 'relaxed and paid for' does not apply here. You might think it makes sense peering in from the outside, but it is really a too unpredictable situation to be thinking like that.
Prison is not a motivating factor when people enter a criminal career.
The bills don't stop coming, you just aren't able to pay them - usually neither financially nor practically. Had a place to live? Not anymore.
Want to vote? Not anymore.
Convicted for drugs? Hand in your drivers license and forget about student loans.
'PS3 and Xbox on tap' is hardly accurate, and even if it was, it doesn't make prison life a vacation. It does not counter the loss of liberty, goods, heterosexual relationships, your security and your freedom. You might have a few games, but they get old. Fast. A reason gaming consoles are allowed in some prisons is generally not for the good of the inmates, but a system interest. They are really great to make inmates passive.
Drugs in prison are not free, you're paying someone back somehow. Also you're facing prolonged sentences and periods of complete isolation.
The idea that 'sure, I'll just kick back and chill for 8 years, prison life is going to be a blast', is not an accurate description of how it is experienced. The loss of freedom is hard to grasp for a person who has it, as freedom is a lack of restrictions (and not the presence of something), it can be hard to grasp what you have until it's lost.
And when you get out you're not done, the conviction will follow you always and everywhere, limiting your possibilities in life severely.
Please read what I am saying, without erecting a straw man. I accept that we have and must have a penal system, I am only listing realities of current life in prison.