Delay those dreams of a Steam Box competing with a PlayStation, Xbox or Wii. Valve Software is not making a gaming console in the near future and that the various rumors swirling around don't add up to them making their own set-top box.

It's beginning to seem entirely possible that PC gaming powerhouse Valve is working on its own "console" (or at least custom PC). Especially when you consider that it's been working on control pad designs for nearly three years.

Steam Box. Gabecube. Steam Engine. And, of course, Orange Box. If Valve Corporation is planning to offer a so-called PC gaming "console," the gaming community has already focus-grouped the brand names for it. "Companion Cube" would also seem to be perfect.

Less than 24 hours since the website The Verge reported that Valve is working on a video game console, we've got what could be a photo of a prototype unit.

Respected tech reporter Joshua Topolsky is putting it all out there over at The Verge, reporting that the chatter about Valve Software getting into the hardware business isn't a tease.