This is quite the contentious topic. Let me try and tell you my experience. I've been a PC user (and very productive) for many years and didn't understand the passion for macs. I like to think of PC's as Chevy's of 5-10 years ago. If your just looking for transportation, it will fit the bill with known limitations. There are a few dedicated Corvettes.
I've been in the software development business for about 30 years on all kinds of platforms. About 6 months ago, I inherited a MacBook 1,1. I started using it and realized the whole IS greater then the sum of the pieces . I won't go on and on, but will say this: MacOS X is great, and the apps are great, but you will not get the real experience unless you run it on the hardware it was designed to run on. I compare my new MacBook Pro 5,1 to a German BMW M3 in build quality and purpose. It just makes me smile when I use it.
My guess: Budgetary considerations. The OP probably doesn't want to fork over the dough for a new Mac.
Generally speaking, Hackintosh can be achieved for next to no cost by a resourceful computer enthusiast, provided the available hardware is supported by OS X. If that "old Windows piece of Junk" has an AMD processor, ditch it. Even an Intel is still iffy. Another guess of mine: Lion will likely require Core 2 Duo or Core iX. Don't have that type of processor? Get a used Mac.
(The above is my humble, insignificant, and probably inaccurate opinion.)
You should really buy a Mac from the Apple Store. Everything is made to work with Mac OS X, it will have updated technology, and it will just work. You won't be spending hours of time troubleshooting what went wrong with your hackintosh. I considered doing that once, but decided against it.