@Hammer
How much more will you need to actually get that 470$ PC to equal AppleWorks suite. AppleWorks is a world ahead of MS Works and it will open/save MS Word files. How about iLife; iMovie, iPhoto, iDVD, iTunes, Garage Band? Many of these have no equivalent on a PC bundle and would cost a dearly to replace.
Without OS X, among other niceties, you would lack Zero config networking (including wireless), a good bluetooth implementation, The most advanced OS level display system and system security.