What we call consciousness is probably very closely tied with having a physical body perceiving things it the outside world. So I think for a long time there will be differences between machine and man, but machines will eventually win out and become vastly superior to people. I just wouldn't count on it in your lifetime.
The really interesting question is: if we can quantify consciousness, what happens when we create something that's more aware and conscious than we are? Would we be considered sentient by a being that thinks a thousand times faster and in hundreds of thought-trains, lives for a million years, and can converse millions of ways simultaneously at bandwidths millions of times greater than speech?
We would be like insects to something like that, and it's not such a far-fetched idea or that far off.