The pc gaming is not dying, "they" have been saying that over 10 years now, look where we are today.
It will never die, simply because PC is where the big gaming tech is.(then transported to the consoles...DX8/9...pc is at DX11 already...
Is true that a lot of companys has migrated to xbox360 exclusive as they line up much more money.
Just think that Microsoft and Sony went for the best way to get a lot of money, and that's a mid range PC(console) with 200$ cost for it, so parents will buy that instead a pc of 1000$ for the kids....
Playing shooters with a joystick is a no-brainer(even more in multiplayer pvp).
Getting off the off topic:
Your CPU is just fine, don't believe in bottlenecks etc.
Nobody can tell you exactly how much you will be able to play with your current card, as there will always be games that requires a lot of power, as well as games that requires less, but you have a good enough card for the resolution so, take all the juice out of it, and when you want to play a game that requires more than what you have, start thinking about upgrade in that time.