Gamasutra has a nice wrap up of an event held at Valve's Washington offices; the topic was (surprise!) PC gaming. On the question of whether PCs are really lagging behind:
"Is there a crisis in [PC] gaming?" asked [Gabe] Newell, who led the first segment of the talk. "You know, 'Piracy killed my game,' 'Console numbers are huge,' 'People don't want to play their PCs in the living room' - all these stories get written over and over again, and our view is that it's exactly the opposite. PC is where all the action is, and there's a perception problem."
Also on the agenda was a discussion of piracy (and indicator of "unserved customers"), the worldwide PC market, and how Steam and Valve fit into this whole PC new order.