It only accepts CD keys from a few selected games, whose developers worked with Steam in some way or another I guess.
On the issue of physical media vs. download, by the time your last CD drive has broken and you cannot buy any CD-compatible drives anymore, the download might still be available, but then by that time your hardware and operating system might be rather incompatible to your 30 year-old games anyway, so future proof is very relative. And when you go to the cinema, you don't own the movie either.
I too have a lot of old games sitting on my shelf but in some of my more honest moments I thought I should throw most of them away because realistically I'm not going to play them again anyway, because it would be too much effort and then I'd realize how my flowery memories made the graphics soo much better than they really are(happened with RTW once, man were those textures blurry...).![]()
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