Actually, the next gen gaming systyems are going to be more powerful than any PC available at the time of their release, they will be sporting 3 processors and the video cards from both ATI and NVidia have been specially built for the consoles and pack more punch than anything on the market for PC's.
Actually, all these consoles only have ONE processor. Its just that the xbox CPU has 3 cores in it. The sony one has 8 cores in it (including the SPE). However, these CPU's are highly specialized and so are only powerful when it comes to a certain field. Should you attempt to use these in an PC, you'll see that these CPU's would lag behind a pentium 3. The Ps3's cell processor has 8 yes, but 6 of them are very special and are limited to certain functions (one of thme is disabled also). Should you run a PC program on it, at most only 2 or 3 cores would be used and these 2 or 3 cores cannot match the performence of a much faster single/dual core intel/AMD. (If you want more info on the cell, read this article,
here)
The video cards in these consoles are modified versians of upcoming video cards for the PC. The ps3 is sporting an overclocked variant of the 7800 GTX with more memory added. The xbox will be using a variant of the r520 slated for release next year by ATI. So, yes, currently, these consoles are better than PC's graphic power-wise, but that will soon change as these cards become available for the PC. Plus, none of these console will support SLI/Crossfire, which already limits them in terms of graphical performence when compared to the PC.
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Actually, its not going to be. They plan on making a loss on the first two years, and make the profit on the following. Sony predicted a