This single troublesome incident does not really say anything about the status of PC gaming, sorry. You could of just as easily experienced a red ring of death with the Xbox 360.
On February 8, 2008, during the Game Developers Conference 2008, Microsoft announced that the "Failure rate has officially dropped", but without mentioning any specifics.[28] The same month, electronics warranty provider SquareTrade published an examination of 1040 Xbox 360's and said that they suffered from a failure rate of 16.4% (one in six).
Personally I'm on my third Xbox 360 after the first suffered a Red Ring of Death failure and the second had a faulty DVD drive that killed any inserted disk, destroying my copy of Rock Band. It actually convinced me to switch to gaming on the PC, as I refused to trust my Xbox and I didn't want it to fail until I had finished the Mass Effect trilogy.