A thread on NeoGAF notes some code in the new Steam beta suggesting Valve is planning to allow Steam users to select games to share with a circle of friends. This is confirmed on Kotaku.
This wouldn't be the first time this rumor has surfaced though.[FONT=Arial, Helvetica]"SteamUI_JoinDialog_SharedLicense_Title" "Shared game library"
"SteamUI_JoinDialog_SharedLicenseLocked_OwnerText" "Just so you know, your games are currently in use by %borrower%. Playing now will send %borrower% a notice that it's time to quit."
"SteamUI_JoinDialog_SharedLicenseLocked_BorrowerText" "This shared game is currently unavailable. Please try again later or buy this game for your own library."[/FONT]