Miller wants Valve to spin Steam off into its own company, because he wants to work with a download-only service instead of a competitor. He thinks that an independent service will take Steam's place because he -- and we assume other developers -- don't like giving Valve a cut of the profits and a glimpse into private sales numbers.
Miller also thinks episodic games could work, but they're not yet succeeding because of delays between releases. He prefers spending the time to ship a single game with an ending instead of three short cliffhanger episodes staggered over a year or two.
We think he's spot-on in these assessments. Steam seems to be succeeding because Valve's great games have carried the service. Sure, other developers have signed on -- especially recently -- but Miller makes a simple argument why Valve's company can't dominate the whole download industry.
We're also excited about the potential of episodic games, but few have been released on a regular schedule. And even then, how long can gamers wait between episodes? Sam and Max episodes will be released each month -- is that the right length, or still spaced too far apart?