A 3Ghz Pentium 4 and a $50 Radeon 3850 will max out Valve games. Spending their time ensuring more compatibility on PC is more worthwhile than sinking resources into PS3 development. They own Steam. No licensing fees. No retail channels. That's straight up profit.
Playstation 3 is complicated to program for and Valve is not a huge developer like many think. Their resources go into running the Steam platform. They probably just don't have time to dedicate time and energy into the machine that will net them the least returns in comparison to PC and Xbox.
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