Steam's Big Picture
via Valve Press Release
Why give up your games, your friends, and all that you love about Steam when you play games in the living room? With Big Picture, we’ve reformatted Steam for use with your TV and game controller, so you can enjoy your Steam games from the comfort of your couch.
TV, meet PC.
Grab your laptop and an HDMI cable, connect a dedicated PC to your TV, or just kick back in your dorm. Setup is easy.
Choose your weapon
Pick up your game controller or liberate your keyboard and mouse - the choice is yours. Big Picture, paired with your controller, makes for a powerful match. You can navigate Steam, surf the web, and even chat. Oh, and play games too.
More at: http://store.steampowered.com/news/8824/