* No DRM. I have been burnt several times by PC games on this front.

True, sometimes drm is an issue. To me drm hasnt been an issue for quite a few years.. I think it was with the last game I bought a hardcopy of. If you are talking about the gaming services everyone has different views on different vendors. It can be argued that the need for the console itself, created by a single manufacturer with sole control, is drm in itself.

* No viruses or malware to worry about

If you dont click suspicious banners or run spam executables you wont run into viruses (If you are a legit customer, if you download from piratebay or similar you can only blame yourself). I have been an active gamer most of my life (31 years old now) and I think I ran into my last virus back in windows xp.

* Far fewer updates to install and in general less maintenance

So you live with bugs for longer? Must suck... The awesome thing about pc gaming is that whenever you log on some issue you had in the past might be gone. Updates are there to improve your gaming. If you are talking about your OS, you forget that your computer is not just a game station, it is also a tool. The updates are there to keep things running smoothly.

* Warranty - if I build a PC myself and it breaks, I need to fix it (I recognise that for more technical users and/or people with more time, it's a plus that you can fix a PC yourself - but that isn't everyone)

If it breaks, call a repair guy. I refer again to my point about the computer not being a dedicated gaming platform.

* Compatibility. It's hardly rare to run into issues if you try to play a PC game on launch date, and often graphics card driver updates fix some games and break others.

What does launch day have to do with compatibility? I have never suffered not having up to date drivers if a high profile game using some weird functions not covered by previous drivers is about to be released. Again, I am an avid computer gamer.

* Noise and size (it's hard to make a small quiet and powerful PC on a budget)

No its not. Have you tried? It is cheaper to make a powerful and noisy computer, but silence is not super pricey, ya see. Your little console is partly built with pc components, so you should be able to create an equally powerful machine with the same noise level for just about the same price.

* Peripherals - there is a standardized set that "just works" for a console. On the PC, maybe half of my Steam library supports my controller out of the box.

Not every game uses a kinekt. Not every game uses a joystick. I have a pretty beat up x-box clone gamepad, a cheap joystick and a track ir at home. Never had any issues with them. For most games I prefer the keyboard tho so this might be a bigger issue for others.

And one non-technical aspect which isn't a concern for everyone, but is for many:
* My friends are all on [XBox Live|PSN] and I want to play with them

And there we get to the meat and potatoes of your post. You game with your friends, all your friends are on other platforms, so you do as well. That is fine. There is nothing wrong with it. You shouldn't listen to the hype that tells you consoles suck. They don't. They have points about them that are very valid (ease of use, portability, instant gaming). Just dont buy into the hype and use arguments made by 12 year old youtube jockeys to make your point. You do not need to excuse your gaming habits. Just go play, its fun.