Valve's Steam Service Adds Gift Purchases Option
After checking the box next to, "Yes, it's a gift," when making a Steam purchase, generous gamers can send the gift to anyone with a valid e-mail address. If an intended recipient is a Steam member who already owns the title, the user will be filtered out on the list of valid recipients.
From The Chatty
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Oh wow, this is awesome - been wanting this for a while.