sapi said:
I never had that problem but i understand that i can't speak for you...
A lot of people did. It was more teething issues than anything else, but it did demonstrate the fact that if anything happens to Valve's datacentre (power cut or similar) then it prevents you using any steam based services until they either fix the problem or come up with an alternative.
You can't play any online games until you update them so you have no choice anyway....
It depends on the game (or rather whether the only servers are the company owned servers). Official servers always run the latest version, public/private servers may not. I know several servers for a number of games which don't run the latest version, primarily because they don't like the balance tweaks done in that version. Alternatively, they may hold off the update because mods they're using are incompatible with the latest version.