[Update: I'm adding in a few suggestions from the comments. Keep them coming!]

It doesn’t have a name yet, and a final form factor hasn’t been revealed, but the SteamBox is slowly taking shape. Today Valve revealed the technical specs of the prototype consoles that they’ll be sending to beta testers next month. To say that the box will be a powerhouse is an understatement.

Firstly, it’s important to note that the prototype will come in several flavors. Though Valve has hardware in mind, other manufacturers will ship varieties of their own versions of the box, from low-end to high, delivering varying technical specs. That should make for a broad brush stroke of pricing as well. Each of these boxes are meant to run every game on SteamOS, and most should be upgradable over time, so that users will get the exact experience that they want, every time, without loss of software library.

Valve’s SteamBox/Steam Machine specs are as follows:

• GPU: some units with NVidia Titan, some GTX780, some GTX760, and some GTX660
• CPU: some boxes with Intel i7-4770, some i5-4570, and some i3
• RAM: 16GB DDR3-1600 (CPU), 3GB GDDR5 (GPU)
• Storage: 1TB/8GB Hybrid SSHD
• Power Supply: Internal 450w 80Plus Gold

The casing, which has yet to be revealed, is 12.4 inches deep, 12 inches wide, and 2.9 inches tall.

Looking to compare how that stacks up to the Next Gen consoles? Here you go:

* Using Amazon prices for NVIDIA Titan and GTX660

** Many PS4, Xbox One and Wii U specifications unnofficial and are subject to change

*Xbox One uses unconfirmed size zpecifications

Little else is known (will it have a Blu Ray drive? How many USB ports?) but we’ll find out a lot about that in the coming weeks and months. The biggest question, however, is price. Even with the least expensive hardware Valve’s prototype consoles, if purchased separately, could cost upwards of $1500. Valve would surely be working with manufacturers to bring the device to a more manageable price to consumers, but until then it’s a big fat question mark.

http://www.sidequesting.com/2013/10/valve-details-steambox-prototype-specs-compared-to-ps4-xbox-one/

as much of a beast that it is, ill stick with a ps4

Low cost version will have lower or equal performance as 4Bone, and high cost version is too high cost. I don't see any success in there.

Plus Valve fanboys wouldn't go consoles (the fanboyest ones)

I think I will stick with the consoles... I already have a gaming PC and I doubt I am gonna need another one that plays the same games... Consoles are great cause they have games that can only be played on the consoles...

I'm so very confused. Why are we comparing PC specs to console specs? I mean, we know PCs are more powerful than consoles, right?

At any rite, prices are misleading if I'm interpreting this right. There is more to building a console than buying a GPU, CPU, and Ram. Not like you can ducktape the components together. Doesn't take into account controllers, cooling, labor, etc unless I'm reading it wrong.

Steam machines are being made by 3rd party companies, meaning that there could literally be hundreds of types of combinations. This are just the ones that Valve decided to choice for the prototypes. So comparing this specs to consoles doesn't really make much sense.

Steambox's are gonna flop hard, to be honest.

I'm really let down because I thought Valve was gonna make a more closed box with features of PC gaming such as mods, interchangeable parts, steam sales of course, playing MMORPG's, and etc.

But basically it's just a pre-built PC that's way out of the price range for it to be an actual factor. In fact, any PC will be a steambox with steam OS, even the one I'm typing on.

So why would I ever even consider a steambox?

I don't understand the purpose of SteamBox. Why would anyone buy a Steambox over a PC? The machine is directed at people already familiar with PC gaming, what do they gain from buying a Steambox?

Like I mentioned above, since the steam machines are being made by 3rd parties, there could be a lot of types to choose from, some of them might be cheaper than the PS4 and Xbone. What Valve is trying to do is make PC gaming gaming more accessible, make PC gaming feel as close as possible to console gaming. And from what I understand, the Steam Machines are being made so you can hook them your TV and play like a console. That's the main goal of the Steam Machines and SteamOS. 

Not to mention, the GTX 660 only has 2GB GDDR5, not 3GB. I highly doubt ANY Steam Machines will debut for less than $600 unless they have weaker overall performance compared to Xbox One/PS4.

In order to be comparable, you probably need a good $800 PC due to the console's optimizations.