http://store.steampowered.com/livingroom/SteamOS/
Open source (built upon Linux), freely licensable, can be installed on "existing living room hardware". But this is what gets me really excited
Quote:
You can play all your Windows and Mac games on your SteamOS machine, too. Just turn on your existing computer and run Steam as you always have - then your SteamOS machine can stream those games over your home network straight to your TV!
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I've been debating on whether to build a gaming rig for my living room, as I'm getting more and more games through Steam that I'd prefer to play on the couch. This solves that issue, letting me use the power I already have from my current PC. Can't wait until we see more