Technology will always develop, consoles are merely a branch off of the PC to fill a hole that current PC technology could not.
Consoles AND PCs will always exist, neither is going away. To put it frankly PCs can do so many things consoles can't but Consoles do games (and other stuff like DVDs etc) better than PCs but none of the other stuff they can do; they are specialists.
Technology will always develop, right now there are a myriad of reason why some people use consoles over PCs but in time these weaknesses on the PC will be fixed. But consoles will evolve too do other things that future PCs will not. Other kinds of systems to do other things will also be developed.
At the end of the day this is where I think its heading.
PCs will always be the 'all rounder' doing 'good enough' in everything.
Consoles will probably evolve into more of an all around entertainment center
At least 3 other systems filling in other areas will develop.
But these systems will not be independent of each other, each one will communicate to the others as one whole system. At the end of the day technology will reach the point where this is not only possible but logical and commercially viable.
The people who are like 'PCs rock, consoles are lame' Are Wrong
The people who are like 'Consoles rock, PCs are lame' Are Wrong
The people who think either are going away. Are Wrong
The people who think they will all just come together Are Wrong (at least until a very long time from now)
The people that realize everything is here to stay and each forfills its own part in the industry Are Right.
Comments/Flameing welcome