Yep...the whole 'activation' thing was a bit of a joke. It went pretty well for me, but I would be piffed off if I had paid for the downloads in advance and then couldn't activate it on the first day due to the demand!
Also, as the copy you have is now registered with you, and you only, if you ever need to change some of the registration details (ie you sell the game to someone else) or invest in a new machine/email details etc...this may mean you will have to 're-activate' your steam acount...for a small fee!!!!!!!!!!!!!!!!!!!!!!!!
What a joke!
[Edited on 1-12-2004 by Harv748]
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