I have both and I'm still trying to figure out which one to get. I do have a nice PC so I know, graphically, it will look better. Normally this would be a no brainer to me since I played Oblivion and Morrowind on the PC but I keep reading these posts that the UI and controls are absolutely atrocious on the PC. Just wondering is this overall true? I'm cool with going xbox if this is the case. I don't wanna have to fiddle around alot in order to get the game to play the way I want it to. Thanks for any feedback.
Trust me on this, I was in exactly your position, with a reasonable PC (that can run the game on Ultra) and an Xbox with a nice TV.
To allay your fears, I actually find the UI to be fine; there's a few let's play of the PC version around on youtube, but the menus are easily and very quickly navigated using the mouse (to mousewheel / scroll up and down) and the WASD keys (to move up and down, equip, drop, sell, change quantities, etc). There are some menu options that apprently only use WASD, like the meters in character creation, but I honestly think anyone who goes as far to say it's a [censored] consolized UI is overstating things a bit.
But, if you for some reason favor never having to tap on a keyboard in your menus, you might be annoyed. Other than that, I found the menus to be very intuitive and organic, never moving my hands from my natural "game" positions (of WASD and mouse).
To be honest though, if you have no interest in mods, you might well just get the xbox version as it's basically the same, minus some of the high-end options (AA, ini tweaks for better shadows and the like).