Apparently Crysis2 is looking swell on the 360. As usual, it's much more about software and how much work you put into it than the hardware.
Interesting. I'm not doubting you, but do you have any linkable pieces discussing this point?
There has been recent discussion on it.
In essence they argue that all the extra layers of API/driver/OS bottleneck a lot of PCs graphic power and I imagine you need to use various tricks on the software side to somehow get around it.
The end result is that PC games don't look much better than console games despite large differences in theoretical graphic power.
I always thought that has more to do with game assets being made with consoles in mind but I'm sure they also have a point.