Have a Look...
1) Browse to steam dir
2) Search for gcache.gcf
3) Open the 400+ meg file in a hex editor
4) Search for 'kazaa' and 'mp3'
6) Curse and uninstall steam
WTH? Why the hell is steam looking at kazaa user names, mp3 contents, HTM records, and a whole lot of other #### I particularly don't want Valve having detailed records on passed through an undocumented protocol?