Steam is free and offers more....
Matchmaking
Persistent identity framework
Achievements, leaderboards, profiles, and avatars make your game come alive, building your community and providing a strong incentive to play more and recruit others.
Frequent Updates (Like new weapons and maps)
Over 200 Full games you can purchase download
Supports mods (It has a mod sections where you can check out the latest ones)
Dedicated servers
Group Private Chat (You can't do this on XBL)
Custom Avatars
Demos
Game weekends where they make a game for the weekends
Steam does frequent sales, example Prey was $5 for the weekend on Steam
Steam has EXTERNAL server browser
Steam Cloud is coming
Valve supports Steam alot with new updates
All this stuff for free
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