Yes, free games for all* Radeon owners (* the card must be installed on the machine you are using; some restrictions may still apply).

Valve and ATI are once again teaming up to provide gamers the latest in Valve software when you purchase a new ATI Radeon HD 2900XT video card. Once the games are released, the new owners of this card will receive, for free, the games of Half-Life 2: Episode 2, Team Fortress 2, and Portal.

As noted, current owners are able to immediately download and play Half-Life 2: Lost Coast and Half-Life 2: Deathmatch for free. It's hard to complain when they're free. If you already own the games and still want to partake of the freebies, just make a new Steam account for these games. You never know when you might need it.
Effective immediately, all owners of ATI Radeon graphics cards may receive a free copy of Half-Life 2: Lost Coast and Half-Life 2: Deathmatch via Steam, http://www.steampowered.com/ati_offer1a/. Steam will automatically confirm the presence of ATI Radeon(tm) hardware and then enable immediate access to full versions of the games free of charge.

For added convenience to new purchasers of ATI Radeon(tm) products, Steam will be included in all ATI Catalyst(tm) Software and Driver packages through early 2008.
That's not too shabby at all.