steam box

Anybody else excited after hearing about valves steambox which is in the works sounds like it is going to be a windows based console (which is why im posting this here)just hope it doesn't include the draw backs of the constant need to upgrade the hardware as with a pc or will it be a true console that needs no hardware upgrades or will only specific games be available on it
what I'm also excited about is the customizable controller
Let me know your thoughts