Steam (software) - talk to me

[All that jazz]

So I keep hearing this "Steam" mentioned as the one-stop shop to purchase all your games from. Just had a look at the wiki page about it and I get how the concept works, but am I missing something here? If you buy something from them you only have a digital copy of it with DRM to use it, so when you get bored of whatever games you've purchased from them how can you sell them to recoup some of your money spent? If you had physical hard copies of the games then you could obviously flog them on Feebay or whatever. Are the games sold via Steam significantly cheaper vs. physical hard copy on disk to offset this or..?

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So other than the occasional cheap bundles, which I'm guessing are largely games you've never heard of or aren't popular, is it better to buy hard copies then would you say?

Is the attraction of Steam that you can have games NOW rather than buying online and having to wait for it to be delivered?

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OK thanks for all your comments, interesting reading indeed. Unfortunately after browsing the site for a few mins and looking at a few titles I've now been locked out from clicking on anything. All I get is some sort of unauthorised user message. Can't download it either, same issue as the chap earlier in this thread. Not impressed so far.