Guys, I just found this awesome program (thanks to someone in the Cheapassgamer forums) that will give you back a fair bit of space in your HD. I'm sure like me many of you have a HD dedicated to just Steam and probably have a lot of games installed, well this program goes through and deletes all the redundent stuff Steam downloads for each game you download (you know like those VC Redist, DirectX, etc installers)
I did it on my 1TB drive that is nearly full of Steam games and it cleared up 13.5GB
Here is the page, easy to use
http://steamcleaner.tikione.fr/en/
Only one tip, when you find your Steam directory just select the Steam folder and don't select the steamapps folder (the program wont see it otherwise for some reason)