Valve has come out and clarified that previous rumors of a "Steam Console" are false, and that they are only currently testing Big Picture Mode on their own custom rigs. Kotaku got into contact with Doug Lombardi and he had this to say.

Doug later goes on to talk about Big Picture mode a bit more, and discusses if there is any possibility of Valve hardware anytime soon. The full article can be read here.

How do you feel about a Steam console? Would you buy one, and if so what kind of features would it need?