Apparently meetings were held during CES to demo a hand-built version of the device to potential partners. We're told that the basic specs of the Steam Box include a Core i7 CPU, 8GB of RAM, and an NVIDIA GPU. The devices will be able to run any standard PC titles, and will also allow for rival gaming services (like EA's Origin) to be loaded up
http://www.theverge.com/2012/3/2/2840932/exclusive-valve-steam-box-gaming-console
Interesting idea, but I'm not totally sure on the reliability of the link.
If it does happen with the spec mentioned, I can imagine it being probably the most expensive console out there which such high end hardware. However, it would mean developers could have a standardised system to develop for, which is probably one of the biggest advantages consoles have over PC at the moment.
Anyway, should be interesting to see if anything gets mentioned in GDC or E3. I know they have a private booth on the latter, and with DOTA2 and CS:GO both being very public so far, I can't imagine it being for them.
Imagine HL3 as a launch title
