The rude first posters aside, Yeah when you buy a game off steam it is yours to have, you can mod it (Im certain of this, since half my steam bought games are modded :P) you can play around with them or alter them, as long as it is not about hacks in online games or pirated games (those two will be really bad for your health).
Everything goes, Valve is very mod heavy and pro modding, Ive never seen them fret over anyone modding thier games, besides The majority of Steam games are not made by valve, so it is not thier call, but rather Companies like EA, Activision, SE, Ubi and so on. But again they really dont mind you modding a game :P Or use cheat codes in SP games. (since they are usually disabled in online games).
The second part of the topic would be if you own the games, Ive been in on it a bit, but yeah you do own said games, you can make your own copys of said games if you care to (but still only play it on that one account). If Valve were to go bankrupt they also have safety measures put in, that unlocks all the games bought through Steam, t funktion just fine without steam. It was long ago that was implemented, back when they still were uncertain if this would fly, but it remained thier practice.
Only real negative with steam is if you get your account stolen, or if you got the odd idea to hack, well Im sure Hacking only shuts down the online portion of games (in any case the rest of us gamers really like that deal ;) ) If your account is stolen, you just need to send in an email with a recipt for one of your games on said account, or a pic of a cd key, and theyll get you the account back. Might take a while tho.
When everything is said and done it is quite clear tho that some people have an easier time adjusting to the DD market then others, I think it is part of human nature, since you do nto have a tactile feel of what you own in your hands. So suspicion would be normal for some, every time technology made a leap this happened, and DD IS very much a jump in technology (or atlest in how it works and are precived).
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