i rented colony wars when i still had a PS1. it was pretty good. but i'm not about to mod some hull designs just for the sake of it (or due to however nicely you might ask).
chiming in on the tagent (sorry StormWeaver), as i understand it, the hardware on console games is almost always behind the cutting edge. their main advantage comes from the fact that every console is the same. programmers can search for bugs on their PS3 and rest well-enough assured that your PS3 won't work differently because of a hardware conflict. moreover, they don't need as bulky an operating system to manage the potential differences of hardware, multitask, etc. finally, they're much more affordable for what you can do on them. sure, i could build a PC that'd easily out-gun a PS3, but it'd probably cost over $5,000. what could you do on a $500 PC (besides learn to hate Dell)? i think it's really apples and oranges. PC games tend to attract users who want to know what's going on under the hood, as it were. console games attract people who... play sports games.
to be sure, i have no intention of buying any of the next-gen consoles out right now. i've been enjoying FFXII greatly, but the PS2 is my roommate's. games on the Wii look rather... childish; i refuse to buy a console from MicroSoft; and though i'm not quite as vehement as n0v4k4n3, i don't have much confidence in how well the PS3 will do or how long it'll last. in the end, i'd rather spend the money on upgrading my system.