I like steam but a few times it has not worked very well at all. Sometimes when I travel, especially overseas, the internet either doesn't work well or I get hit with country restrictions, even though it is still my laptop with a valid installation of the game already. It is frustrating to try to play a game and have it take 2 days to phone home and download some patch or something.
Other than it not working sometimes, it seems like a reasonable way to manage some games. On the other hand, highly customizable games like AH might be hard to work with on steam. I'm not as comfortable adding aftermarket or custom mods to steam games, not sure when it'll break something and not sure how to restore an installation if I do break it. A stand-alone game can be fiddled with and not have to worry about breaking it.