http://www.bit-tech.net/news/2008/12/12/steam-launches-european-beta/1

This is interesting.  Valve have launched a European beta option to their Steam website (not Steam itself), which changes prices for games to the native currency at more reasonable cost comparable to how much we would normally pay. Whereas normally we'd just pay the price converted directly from USD +VAT.

Previously on Steam a game like Left 4 Dead would translate from $50 to around £35 (inc VAT) bought through steam - which is how much I paid.  However with this european beta the game is now available at a more typical price for a PC game here - £27 - which I wish I had paid!

Check it out - some of the savings are great.  The biggest one being Bioshock going from $54(>£36 inc VAT) to £13!!  However, I dunno when or if they will pick up on this soon and change things to make more financial sense.

http://store.steampowered.com/?localizedcurrency=0