Valve talked about this feature a year or so ago — a couch friendly mode for Steam’s interface. They went quiet and are not ready to start open beta testing of the controller enabled interface.
They even threw up a webpage detailing the upcoming interface.
The interface is just as I imagined it would be; big icons and some kind of carousal library. The web browser though, that’s unexpected. I’m very curious how this “first person web browser” feels and that “Daisywheel” typing interface is interesting as well.
The open beta should be available any minute now.