Consoles will always be behind.
It's funny, consoles that are being made today are compared to today's PC graphics cards. They might be better than today's PC graphics for a short while...but with the release of yet another line of cards from nVidia and ATi, console graphics will be left in the dust.
You can compare them all you want, but the main losing point for the console is upgradability. They can remain "the best looking" for a short while, but then the PC (yet again) graces past them with a new line of performance cards. You're stuck with a console for another 1-3yrs, and then you repeat the cycle.
My overall conclusion; consoles win the short battle, but PC's win the long war. If you want overall "best looking" graphics, stick with a PC.