Will next gen consoles play their games at max?

Depends on how well they optomised the game for PC. If it's one of those stupid things that don't even give you resolution control, then yes, consoles will play it at max. If not, then no. Consoles generally try and aim for high, not highest.

hmm, I think the first 1-3 years maybe but after that I'm sure that they won't play them at max. Well, I think they won't run on ultra or anything like that

Depends.If the game is made for consoles and after that is remade for PC,then yes,the console will perform much better.Also,in the first 2 or 3 years,this consoles will be "state of the art" so games will be similar to the ones you play on PC in terms of graphics,etc,etc.After that,well,look what happend to Battlefield 3,awsome game (graphics,multiplayer,etc) on PC and verry verry bad on Xbox 360 or PS3 (max ammount of players 16 lol).

for the first 2 or 3 years next-gen consoles will use high settngs which will look similar to max settings but less taxing on the hardware

Xbox games on e3 were actually played on a decent PC with a single GPU. This is most probably because games already look better on highend PC than they do on XboxOne (which is no surprise). After a year or two they might eventually cath up when developers finally get better tools, but PC will already be one generation ahead. So I guess your Pc is good to go, maybe with a slight GPU upgrade in the future.

So because it'll be better optimized for PC now my GPU isn't as bad? I'm worried that games will be way more graphically intensive and I will only be able to run on like medium.

no way. at the beggining they will scream about their hardware usage, probably 30% then, after about a 1-1.5 year they will trying to tell you that their hardware is in use for about 50% and so on. Bullshit.