Valve is recruiting, but it's not just looking for a few extra bodies. According to its job listings page, the company wants hardware boffins to help create brand new gaming experiences. Those adamant that Valve is working on a "Steam Box" believe some sort of console-like device is on the way.
"Join our highly motivated team that’s doing hardware design, prototyping, testing, and production across a wide range of platforms," reads the request for an electronics engineer. "We’re not talking about me-too mice and gamepads here -- help us invent whole new gaming experiences."
Valve itself has downplayed previous "Steam Box" rumors, claiming it's built hardware only to test Steam features and experiment with biometric feedback. It's possible this could be the hardware in question, but talk of prototyping actual machines, and creating something more unique than "me-too" peripherals? It sounds a bit more involved.
Either way, the ground is fertile for some rampant speculation. The kind that seems to always revolve around Valve.