Drawbacks? The only one I can think of is really missing out on some exclusives.

My PC was middle of the road 3-4 years ago when I built it. Core i5, Radeon 5770, 1TB HDD. Under $750. This is more than a console but I was going to buy a PC anyway so the hit really isn't that bad considering I would be spending close to this anyway.

I have no problems with backwards compatibility. There is a much better thriving indie scene on PC. Steam sales! I sit on my couch and play games on my TV with my 360 controller. The mods...my god the mods!

Yeah... Exclusives is the only draw back.