There are games that you can't run well on their highest settings with mid-range cards. Far Cry 3 and The Witcher 2 are both pretty good examples. It's not that it's difficult to utilize that potential - it's that PC's are so far ahead of the current consoles that the settings on even mid-range cards look and run exceptionally better. Yes, developers do get to use the potential of good cards when they include DirectX 11 features and higher resolution textures, among other things.
The PS4 and the Xbox One will look pretty damn good, yes, but you must remember that consoles are different. They are made with playing games in mind, and optimized as much as possible for the purpose of playing video games.
To be honest, I'm not exactly sure what you're asking. Are you wondering if developers can save money with the extra power afforded by next generation consoles? I think the answer to that doesn't exist at this point. I think that publishers and developers are both looking for ways to make games without spending as much money and without losing those great graphics that we're all expecting, but whether it will actually be cheaper to make a AAA game next generation has yet to be seen.
You could say we are \puts on sunglasses/...the secsperts.
But, to answer your question, I think it only makes sense for the latest technology to be utilised and to push the envelope for graphics and physics and whatnot. I wouldn't think Nvidia and AMD would be too pleased if they didn't have the most cutting edge game engines to show off their shiny new graphics cards.
It's the closed environment of the consoles really that have always been their main strength, and why we get the likes of Halo 4 that, (and I might not be entirely correct here) probably couldn't be possible on a PC of the same spec.
If Halo 4 were ported to the PC and you tried to play it on a similarly-spec'd machine from 2005, then it probably wouldn't run all that well because of just that. You'd have to limit the framerate to 30, lower the resolution to 1280x720, etc., and that's not really acceptable for PC games.
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