I agree with you Creston. Unlike like consoles, video cards do not have a 5-year life span. Obviously, you can keep your video card in your system for 3-5 years if you want but after the second year or so, you'll definitely start to see it having difficulties keeping up with newer games.
With consoles (specifically Sony's PS2 and PS3), the graphics will be very good at the start of the console's life and only get better as time progresses. The two sides (consoles and PCs) have a completely opposite view of on pushing the graphic enevelope.
Consoles: push the limits of the hardware until necessity forces the creation of new console hardware.
PCs: Both video card makers and developers always playing catch up with each other, never seeming to be on the same page with at the same time.
There was a time when I thought I'd never pick just one platform and stick with it. But with the PS3 supporting mouse and keyboard, playing games as well as DVDs and music, and quite possibly becoming an all-in-one entertainment unit, there might not be a reason to upgrade my PC any further...