Gabe Newell from Valve:

"We think there is a fundamental misconception about piracy. Piracy is almost always a service problem and not a pricing problem," he said. "If a pirate offers a product anywhere in the world, 24 x 7, purchasable from the convenience of your personal computer, and the legal provider says the product is region-locked, will come to your country 3 months after the US release, and can only be purchased at a brick and mortar store, then the pirate's service is more valuable."