Updates to the Steam Client have been released. The updates will be applied automatically when your Steam client is restarted. The specific changes include:

• Added 'My media' tab to the main steam window
  
• Fixed 'delete local content' not working for SiN1
  
• Separated the notion of 'updating' and 'downloading' in the games list status column
  
• Changed selecting a new steam skin to prompt for a restart
  
• Updated internet connection speeds list in the settings dialog
  
• Added download time estimation to install dialog
  
• Added Metascore column to games list

News Source: Steam News

In the Weekly Steam News, Valve mentions the preloading of Episode One as well as a new tab added to the Steam Client.

Right now, we're in the midst of those very busy days we alluded to a few weeks ago. The preload for Episode One started Monday. The team is working day and night, putting the finishing touches on our first Episodic release. And we'll be adding more content to what is being preloaded next week to insure that everyone has everything they need to play come June 1st.

You also may have noticed there is a new tab in Steam, named My Media. It currently includes a number of movies from both Valve and third parties, and we'll be building more into that area over time.

Next week there will be two new games made available for play. The first is Shadowgrounds, which is currently offered with a 20% discount if you pre-purchase the game before it launches on Monday. Then on Wednesday, the first Sin Episode will be unlocked and ready for play.

News Source: Weekly Steam News