Get a better GPU for your PC (if you do not already have good one), then do PC gaming.
No additional monthly fees to play online, stream games, record gameplay in 1080p, play content from your netflix account.
and best of all, if you have 2 soundcards, (eg onboard soundcard and a USB headset. you can have games use 1 soundcard and netflix use the other, then you can have fraps record your gameplly and voiceover's of the gamme you are playing, while at the same time watching your favorite show on netflix on your 2nd monitor.
PC gaming = better value, without the stupid limitations. (and you get to use the controller of your choice, the xbox 360 and PS3 (and probably the next gen controllers too) will work with your PC, thus allowing you to use the best controller for the specific game. (games that have controller and keyboard and mouse support allow you to use both at the same time (and if you want you can even connect the PS3 and 360 controller and use all 4 (2 console controllers and mouse, and keyboard) at the same time.
Stick with PC gaming. it is better value for the money as you have a device that can do much more.