Well took the plunge today. Steam is having a sale and I wanted to upgrade to make sure it will know which games will or will not run. So the good news is the steam client ran fine despite the launcher being 32bit back when I checked. The bad news it said Torchlight 2 might not work (even has that circle with a slash icon besides it) and it did, so counting on Steam to get it right and not sell me a game that won't work just got dubious.
Other than having to ok notifications left and right for the first minute I had to switch to zsh so I don't have to put up with the nag. I haven't programmed in shell in forever so this is not a problem.