"We are working on getting Steam into the living room, and are planning for a hardware box," Ben Krasnow told Endgadget, "but we have no current plans to announce anything in 2013."
Krasnow was quashing rumours that sprung up after his speech at the EHSM 2012 conference in Berlin last month. The German tech website Golem.de had reported that Valve's Linux-based Steam Box would be revealed this year and would not be the only significant technology that the company would release.
Nevertheless, this still confirms that a Steam Box project does indeed exist and is something quite separate to the Project Piston. It's out there, somewhere, but it if Krasnow is sure we won't see it in 2013 then we'll just have to be patient.
Thanks to CVG.