(http://cdn3.store.steampowered.com/public/images/promo/livingroom/atCJhXa17i/steamos_livingroom.jpg?v=1)
Valve's Secret Reveal
Valve's new SteamOS is a new operating system based on Linux. It will feature everything steam has to offer right now, including a new streaming functionality where you can stream from your home computer to the SteamOS enabled box connected to your PC. This should in theory allow you to utilize the processing power of your normal desktop PC and stream it to your "console" (which would just relay the picture from your pc and take the inputs of controllers).
With the addition of Family Sharing (available on steam beta at the moment) where you can share games with your family (you cannot play the same game at the same time though) it should allow for a huge library of games for you entire family easily accessible.
They also claim the new SteamOS has achieved significant performance advantages on the graphics processing. I'm curious to how this will work with all the windows directx games out there. Guess time will tell. Worst case, it sounds like you can just stream it from your windows pc anyways.
They claim SteamOS will be free forever.
Full story at: http://store.steampowered.com/livingroom/SteamOS/ (http://store.steampowered.com/livingroom/SteamOS/)
Mittani covers it at: http://themittani.com/news/valve-announces-steamos (http://themittani.com/news/valve-announces-steamos)