Anyone whining about Steam simply needs to install a game that requires the Games For Windows Live client, and they should come to the conclusion that as a digital distribution and copyright protection platform goes, Steam is pretty ****ing awesome.
As for the *****ing about games requiring an Internet connection - piracy screwed that pooch long ago. Face it, any modern mainstream game you buy now from anyone other than the smallest indie studios is going to have SOME FORM of online activation. It's become a fact of life. If you're really so opposed to Steam being online all the time, switch it to offline mode.
As someone who plays TF2 semi-competitively, an integrated, smooth, continuously updated, and non-intrusive client is a godsend (Goodbye MS Zone and GameSpy, you ****ty infiltrators of earlier online matchmaking, you will NOT be missed). And it's gotten to the point where the only physical game disc I've bought in nearly 4 years is Starcraft 2 (because it's not on Steam).
That, and Steam sales are better than any sale pricing anywhere else if you time it right. I picked up 6 or 7 major titles (among them, Mass Effect 2, Fallout 3, BioShock 2, Company of Heroes Gold, and Dead Space) for less than $60 not all that long ago. Good luck doing that in a store.
Thanks, I'll keep Steam.