There were recently rumours about the possibility that Valve might be making a console, commonly referred to as a Steam Box (or at least I called it that). Well, bad news anyone who thought this was a good idea as it has been confirmed by Valve that they are NOT making a console, nor have they any plans to do so any time soon.
It’s certainly true that they are experimenting with a bunch of new and interesting technology including “biometric feedback”, whatever that is. And they are prepping something called the “Steam Big Picture Mode UI” and getting ready to ship that, but even the experimental tech is a long time in coming.
The only thing this rumour brought about is that Valve did not discount the idea of creating a Steam Box completely, so there may hope if you were particularly desperate for it.