Shacknews has conducted an interview with Valve big boss Doug Lombardi who laughs in the face of PC gaming death:

Shack: Do you guys ever get tired of the same old "PC Gaming Is Dying" stories?

Doug Lombardi: I mean, I think, we sort of laugh at it. Because we've been wildly successful--we're very fortunate, you know. Our games have all done really, really well, Steam has taken off and become this whole other business for us, Valve has never been in better shape--and yet everybody is talking about how in the PC world, the sky is falling. And we're like, we've been doing this for 10 years now--actually 12 years since the company started, 10 years since the first game came out--and we've never been in better shape, financially or otherwise. The company is over 160 people now--it was 20 people when we shipped Half-Life. We've got multiple projects going--we were always a one-project-at-a-time group.

We don't understand why that story gets traction over time. I think people have finally started to clue in to the fact--there was a story last week where people finally looked at the online subscription revenues for WoW and all the things that look like WoW, and realized, wow, there was a butt-load of cash being made here that wasn't being counted at the register, at retail, in North America, which is where all these stories come out of.  NPD, god love 'em, they release a US retail sales report, and people take that and say that's the world picture. And it's just not true.