My understanding was that no content was stolen, only the source code. It's reasonable to assume that if valve were saying sep 30 as a release date up until the week before then almost all of the content would (should ?) have been complete. To counter act the source code theft they said they needed to rewrite large sections to prevent hacking, cheating, etc. How long does that take ?, it seems it takes them a year...
Obviously moaning about this is a bit childish, afterall if anyone really dislikes the company now you can just refuse to buy their product.
However it is obvious that something strange has happened. Was the content complete as of september 30 last year ?, if not why did they state a release date they couldn't possibly make ?, if the content was complete what have they been doing for the last 12 months ?. Inquiring minds want to know.
Maybe some of these questions will be answered when HL2 arrives (mid september ?, i'll believe it when I see it). But it does seem likely that because of bad management or whatever valve lied to gamers, people do have a right to be weary and suspicous.