A Steam client update is now available. To apply the update, click the File menu inside of Steam and then select "Check for Steam Client Updates..."
In addition to the fixes and tweaks included (see full list below), this release also includes a new Steam Hardware Survey, which is optional for all using Steam. Results from the Spring 2007 survey may be found here. Results from the current survey may be tracked here.
The specific changes include:
Fixed preloaded versions of Call of Duty 4: Modern Warfare being unable to launch
Allow two shortcuts to use the same executable
Added ability to create desktop shortcuts for shortcut apps
Fixed Friends notifications being able to go top-most over the top of the tray context menu
Fixed case where games would only launch in English
Fixed Friends names sometimes being used for Clan names, or vice versa
Fixed a rare crash when attempting to install a game
Fixed Friends bug where the last Friend would not be shown
Fixed the tray context menu to be easily dismissed without actually making a menu selection