I was just thinking off some cool things that STEAM could add to their in game shift tab features, and were wondering what you guys thought of it. 
 
1: Media Player, being able to listen to your own music without having to do any stuff with the windows key or listen to source radio I think would be a nice addition. 
 
2: RRS reader, getting news updates from you favorite site while in game I think would be a nice touch as well. 
 
Do you have and ideas? Tell me what you think.

I want a live-cam that shows me what Gabe Newell is doing at all times

A ninja-engineer.

Those are both pretty cool ideas- but my major concern is that would be too much for a game overlay. If they lag or use up too much resources the extra features would become more annoying than anything.

RSS seems to make sense since Steam already collates news items from a few gaming news sites.
 
A Valve-created proprietary media player is going too far, though.  I think that's too much of step down the road to making Steam bloatware.  At most, maybe Valve could add a developer API for media player developers to add 'Steam connectivity' to their players, then users of a player with that feature chould choose to enable it.   This would allow for a Steam-integrated interface to third-party players, all according what the user wants.  Since Steam already pulls up Windows Media Player to display trailers, it could be an extension of that functionality made open to developers.
 
Even without any official support for extra media player functionality, you can still use a flexible player like foobar2000 to easily setup universal hotkeys to control any aspect of the player without switching windows to it.  So you can listen to music while playing a fullscreen game and have full control over playback without interrupting the game at all.

Don't care for music player. I don't mind having Winamp running, but I never play games and listen to music.
 
I'd like some sort of thing where you can message offline people. Email like thing, not a full email client. Just email-like. The profile comments don't work well cause no body checks their comments cause they're not aware of them.

A party system similar to Xbox Live would be cool

"  A PM system would be nice. A media player plugin-in could work, but I prefer not to listen to music while playing games anyway. I could see Valve adding Facebook connectivity to Steam Community, but I honestly would prefer not to have it. "

A better friends interface
Xbox Live-style party chat

It's perfect as it is.

Maybe built-in screen-casting or something similar. 

I don't see why not. They already have an in-game web browser.

" I want a live-cam that shows me what Gabe Newell is doing at all times "

" @JB16:  Great idea so once it happens no one ever plays in the actual in game chat area!!!  Ever since Xbox Live added party chat I have hated it.  Steam adds this and it would suck the life right out of PC gaming. "

Steam used to have an MP3 player. They removed it for some reason.

Age verification for Germany and Australia.

a better web browser. i say better because sometimes it takes a while for web pages to load. i usually on the web browser when i died in counter strike.

" A better friends interface 
Xbox Live-style party chat "

aim support into chat.

Maybe they should just create the ability to install add-ons, a la Firefox. Then someone can make you your media player plug-in and your notepad plug-in and your ventrilo plug-in and your...

I would like more options for the overlay browser, such as tabs and bookmarks. I often browse the internet in ther overlay if I die early in CS:S while waiitng for the next round.
 
With regards to music I use foobar2000 and universal dedicated media keys on my keyboard.
 
Also I would like some more customisation about what is displayed in the overlay, for example items that are automatically opened or maybe things such as moving the clock or changing its format. Maybe include widget like things, such as temperature and HDD spce, etc.

I want them to release the client side APIs so I can make an android app.

Like said above a better friends system and auto download patches for non steam games. Also it could automatically add the keycode to your game so you don't have to write it down then type it in.

Mobile API for steam chat.  
More Channel features for clans who are used to 24/7 IRC. 
Better Voice options and quality for clans who are used to Ventrilo; integration of channel voice in-game; i.e. having an overlay showing you who is talking outside of the game in the SteamChat.
Integration of a party system into Community aspects of Steam, while keeping everything dedicated (for example, setting up a party of 7,8 people, and having the system find the appropriate server with enough empty slots as well as a server that adheres to your party options).  
Better support for clan pages, more options such as linking to facebook etc.  
A game recorder and screenshot taker that rivals FRAPS and would be accessible via Steam Overlay; or straight up Live Streaming. 
Less than 2 service crashes/ day if possible.