Tony Ray, the creator of the now-defunct PunkBuster, has been interviewed over at the aptly titled NewsGeek.net site. Here's a tidbit from those /. wanna-bes!~
Dent: We have been heard many rumors about Valve, and their support for the product? What is the truth behind that matter?Check it out, but most stuff has been said before.
Tony Ray: Well, Valve has never given me any clue as to whether they support me or not in principle. I will say that I haven't gotten as much as an email from Valve in the past 6 weeks. The last emails I had before that were from Yahn Bernier and Doug Lombardi (separately) saying that they would be getting back to me shortly ... they never did. I have to assume they just don't want to deal with me for some reason, I wish I knew why. If I had believed there was any chance of them working with me, I wouldn't have suspended development in the first place. After announcing that development had been suspended, there was such an outcry from the community that I guess Valve felt they were forced to respond, but they obviously were not serious. They now claim to be working on their own anti-cheat technology - I wish them the best of luck. If nothing else, PunkBuster succeeded in proving that something could be done - if Valve's method is even close to being as successful as ours was, then players and admins will be able to rejoice when it is released. Furthermore, everyone who supported PunkBuster can take pride that we made our statement because without all of us, Valve would not be working on anything Anti-Cheat related at this point. And also even though you didn't specifically ask about money, I see alot of PB-bashers saying that I'm greedy and only care about money or that I selfishly used the community and other such nonsense - this is just not about money. I offered multiple times to work with Valve, several times for free or for the symbolic sum of $1 - they just were not interested.