Blarg: Steam actually installs SecuROM DRM on at least one game ATM. This means you can be prepared for it to do the same for more.,
This is in addition to its own log on to play type of DRM. So you've got DRM x 2. Don't think you're escaping DRM by using Steam.
The games that are listed to have third party DRM:
* Crysis (SecuROM + 5 Activation Limit)
* Crysis Warhead (SecuROM + 5 Activation Limit)
* S.T.A.L.K.E.R. Clear Sky (TAGES + 5 Activation Limit)
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Suffice to say the forums for those three games were on fire with how pissed off people were about it. The consensus is pretty much the same. Steam is the acceptable DRM solution (for them), and to have SecuROM or TAGES put on top of that is unacceptable.
Supposedly Gabe Newell knows of the problems, and is trying to improve the situation.