There's only one thing that really bugs me with Steam, and that's steamworks-only games.
By this I mean games like Empire: Total War, Batman: Arkham Asylum and so on. Non-Valve games that are tied to the Steam distribution platform. It pushes people towards Steam in a way that no other distributor can compete with fairly.
Their dominance is cause for concern, but the other distributors really need to up their game as well.
I do use Steam though, to take advantage of some of the deals. Also useful to have an account if you're looking for multiplayer gaming. From what I've heard, it's far better than similar services (Gamespy, Games for Windows Live)
At the moment, I use Good Old Games, GamersGate, Steam and possibly Origin (I used the EA Download Manager to get Mass Effect 2 (free gift from a friend), so I guess that has become an Origin account?).
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