E3 is the ultimate mecca for gaming publishers. Held each June in Los Angeles, it’s the place where the big guns of gaming show off upcoming games and previously unconfirmed titles, and generally look to make the best argument to separate us from our money. And every year, there’s one conspicuous absence – Seattle based Valve Corporation. E3 is arguably the industry’s biggest event, but Valve, if past history is any indication, will have nothing to announce or present.

Which makes the timing of this latest news rather interesting. Last week, former Valve employee Mihn Le mentioned he’s seen concept art for the most elusive of gaming grails: Half-Life 3. The internet response was to speculate that we might have potential confirmation of a future title. We shouldn’t be surprised; after all, Half-Life 3 is perhaps the most anticipated game, well, ever.

But the response should make us question why Valve’s future is so intensely discussed. For all its success, the company regularly avoids traditional gaming events, yet still manages to consistently engage and please its audience. Granted, it’s responsible for some of gaming most memorable series, and it’s an understatement to suggest that Steam has changed the distribution model for PC developers and publishers. But why is there a special measure of grace granted to Valve?

Interestingly, there’s a Christian principle at the center of this company’s operating practices. Valve embodies a message that few companies – gaming or otherwise – have the discipline to embrace: delayed gratification. Scripture teaches us to recognize and practice the tension of waiting, most often in reference to Heaven: “But if we hope for what we do not see, we wait for it with patience” (Romans 8:25).

In light of this recent rumor, it’s worth noting that Valve never exacerbates this tension, choosing instead to trust that we understand the dividends reaped in patience. In turn, the company’s founder frequently mentions the reciprocating effect: “We’ve also been around for a while, and I haven’t pissed them off too much. Which they’re grateful for because a lot of their relationships, or things that they’re fans of, failed them at some point or another. We seem to be kind of reliable and trustworthy, and they like that.”

There’s a refreshing candidness to his words. It’s certainly smart marketing to suggest your company rarely fails. But the company has been so consistent with its vision, so careful with its message, that fans have similarly embraced the attitude of delayed gratification as their own. And in a business where products can be announced seven or eight years before even potential release, a company that redefines traditional models of operation continues to demonstrate the wisdom of patiently waiting for things unseen.

Oh, and if Valve shows at E3 – watch out, because it’s going to be good.