I'm a firm believer in the graphical superiority of the PC, but that isn't to say consoles can't look good. I thought MW2 looked great and so does Uncharted 2. I'm sure MW2 looks better on the PC with the appropriate hardware, but that's a given. The PC just has more variables that can effect GFX quality.
I totally agree with your point of view. I do think U2 is the first game to really set the bar since Half Life 2, but hopefully some PC developer will step up to the plate at some point.
Either way its nice to see finally see a reasonable non-fanboy opinion here.
I have both versions of MW2 and it does look better on the PC. That said, the leap in quality isn't massive at all. Maybe I'd have a much easier time spotting differences if I plugged my PC into my 60" so I could directly A/B with the 360 version. As it stands the only notable difference is fidelity in the faces, but it really doesn't matter in the big picture given that you spend very little time standing around watching people talk. Its as far from a gamebreaker as you can get, especially at the prices of hardware that we're talking about (my ~$1400 PC if you don't count my 256GB SSD, versus a $300 console).