The first game I bought on Steam was Dangerous Waters, because I couldn't find a hard copy anywhere. Then the convenience of just pushing a button and having a game installed on my machine tempted me to buy another game on Steam, and another, and another, etc.
So now I have about a dozen or so games on Steam, and 4 on Impulse, the tiny competitor.
And I regret it immensely.
Because when you buy a game on Steam, while for all practical purposes you do "buy a game" like in a store, technically you are actually paying a one-time fee for an indefinite rental service, which means that if or when Steam disappears all your purchased games will go down with the service.
So they better keep that boat afloat... You could compare it with buying a real bar of gold and a piece of paper that states your right to withdraw a bar of gold from bank Rupt. Gold, diamonds and jewel cases are forever (except when targeted by giant laser cannons).
Gladly, most games on my Steam (and most games in general) won't be worth playing or having in the next decades anyway, but some of them will, and for these I miss a disc from which I can install anytime, anywhere, regardless of the financial status and history of Company A or B, internet connections, etc.
So I'd recommend buying a disc of the games worth keeping through the times, even if you have a Steam version as well for Steam's conveniences.
Having said that, as the service it intends to be Steam is way better than alternatives with limited activations, fixed hardware requirements, E.T. phoning home every week or bust, internet connection required to start, etc., and it works most of the time, though I've been caught off guard by server maintenance in L4D2 a few times, but that won't be a problem with off-line games.
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"Tout ce qui est exagéré est insignifiant." ("All that is exaggerated is insignificant.") - Talleyrand
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