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I've always been a little wary about things like Steam that requite you to use the client software to play games that you bought. If or Steam decides they want to charge money to let you use it, or the servers that host it become unsupported, or your internet is working right for a while, or who knows what, there goes everything you spent money on. There's comfort in a CD. Even if it's an old game you haven't played in years since you can install the CDs and be playing the game within minutes risk free.Though, on the other hand, 5 bucks for Bioshock is pretty darn cheap.
If steam catastrophically shuts down, Valve better get their *** in gear and setup some kind of... Un-liscensing program that allows the games you bought to be played outside of the client.