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.
Wanted to also add, for users who feel that console gaming is cheaper than PC gaming, consider this from the time the xbox 360 came out to now, if you stuck with xbox live gold, you would have spent around $480.
I have PS3 (no Plus), xBox 360 (no Gold), Wii, and a yesterday's main-stream spec PC (i5-2400/GTX 560Ti 448/8GB RAM/256GB SSD+500GB HDD). These days I mainly play PC games, but I still turn on PS3 once in a while (sorry x and w). It's rather because I have to spend more time on PC, than because consoles give me inferior gaming experience. Of course, PC with high-end GPU has much stronger muscle power. However, that doesn't mean consoles doesn't provide any value. Don't just ridicule console players. We are all gamers.
Having said that, I won't buy PS4 unless it will come with free multiplayer capability. The paid-for scheme is one of the main reason I don't buy/play xBox 360 games. Once Sony follows the suite, I will stick with legacy games on PS3. I am a business man myself, so I understand they want to maximize profit, but please be reasonable. Multiplayer servers are mostly tied to the game's studio, not to Sony. How can one justify this totally arbitrary gouging? Hopefully FTC has enough gamers on its payroll who will investigate such monopolistic practice.