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Steam Box?
Though I love the idea. I am not sure how well it will be received. As PC gaming still "outperforms" consoles and the the ability to upgrade to bigger and better hardware has always been a +.
I guess we will have to wait and see.
From: http://www.rockpapershotgun.com/2013/01/08/it-begins-valve-and-xi3-team-...
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Because I often find myself laying on the couch thinking "I wish that console over there was the size of a grapefruit."
Xbox 360 + Playstation 3
When you say "bye bye" if you mean it is going to kill the 360 and PS3
Unlikely because:
1) I think this will most likely be released with the next gen consoles.
2) there are probably a lot more console gamers out there than PC gamers.
3) Hard core pc gamers like the upgrade-ability of PCs so, I think it will be a hard sell to them as it really is just another console.
4) Given all of the above the MS and Sony both have loyal fanboys and I don't think they will be easily convinced to switch either.
But then again you never know...
I really hope it works though...
but I am not in IT, so what do I know of such things?
But I don't actually think it will harm Microsoft, Sony or Nintendo. And I hope it doesn't as competition is a good thing.
Also, it really matters how much this device will end up costing. Over 300$ will be a bad idea.