The fact that both the PS4 and the upcoming XBox are going to be x86 based platforms can mean nothing but good things for the future of PC gaming.
Currently the PC now accounts for only about 5-15% of the sales of AAA titles, thus leading to the current situation where developers targeted the XBox 360 as the lead platform and then ported from there. The focus on the last generation console hardware was clearly dragging down a lot of the games ported over to PC. Now that porting will be an order of magnitude simpler, I think (hope) we are going to see more and more games where the PC is the lead platform and the next gen consoles are the ports.
Having just put together a monster PC, I have high hopes for the future of the PC as a gaming platform. Crysis 3 is absolutely stunning when maxed out at 60fps and quite fun to play to boot. I dl'ed SimCity last night and from the few hours I was able to play I can already tell that its going to be a ton of fun as well.
The kind of graphics and smooth-as-butter gameplay you can get on a PC is an incredible upgrade over the current generation of consoles. It's a shame it doesn't show up better in the (compressed) YouTube video comparisons, because the difference really is night and day.