Possibly great news for any fans of Valve: they are planing on developing some kind of living room PC that will compete with consoles and conventional PCs. From what I can gather, it sounds like some kind of limited PC/console hybrid. It should come as no surprise that Valve also plans to integrate Steam directly into the console. This strikes me as the gaming equivalent of Apple's strategy. Apple creates both its own hardware and software, which has become a main selling point for the company. Similarly, Valve wants to attempt this strategy.