In theory though, Steam seems like a good idea, to cut the evil publisher out of the loop. I'm sick of crappy games, dumbed down to appeal to the widest audience, and publishers who refuse to take any risks on anything new or not part of an established IP. Maybe Steam will bring back a golden age of PC gaming (queue Bambi music)
This is such a naive mindset, the only way this would work is if games were free to develop. Current trends in the industry make this quite the opposite, as tech requires more and more development manpower and time to produce a game for your enjoyment.
SOMEONE's got to pay to make a game. If not a publisher, then private funding. And it's a guarantee that whoever pays for the game, is going to call the shots and enforce their vision of what it should or shouldn't be. There are only a handful of companies who have the financial independance to develop a game on their terms and completely seperate from outside contributions, and they are making basically the same game that made them money in the first place.
What this issue boils down to is that Valve signed a multi-title aggreement with Sierra. This is a contract, Valve producing steam so they can distrubite HL2 or any future game that is also contracted with Sierra is a breech of that contract. Of course Sierra wants to hold on to HL2, that's why they signed the publishing agreement with Valve in the first place. Of course Valve wants to release the game independantly from Sierra, more money for them. The courts will sort it out and the game will be shipped into everyone's greedy little mitts.
Sierra has had very little input (thank god) into Half Life 2, indeed Valve has had very little contact with Sierra about anything to do with the game. When it debuted at E3 2 years ago, Sierra was informed a week before the show that Valve was going to show something. This year's E3 was Valve's on doing as well...they brought in their booth and did their own thing. Blizzard seems to have a similar deal...they do their own thing and Sierra just publishes the game.