Well, I'm surprised that you would be willing to wait that long, simply for eye candy. The game won't change? And it's not as it it's greatly improved either... but each to their own...
As for PCv360 versions, I'm actually in the same boat regarding Oblivion. I had it on a decent spec PC, but never finished it. I got sick of the hassle of the PC, so relegated it to media server and download duties, but it was a very good spec at the time, 4200x2 processor, gig ram, and a 7800gtx, but having just aquired Oblivion fo rthe 360, I can honestly say there is next to no difference, if anything the frame rate is more reliable on the 360 version.
My point is that saying the 360 version is crap, is putting it a little strongly, don't you think?
I agree that the extra dev time appears to have improved tha game (I've not played it on PS3, so can't comment presonally, only on what I've seen on reviews), but really, has it turned a 'crap' game into an excellent one?