Valve is looking to make gifting through Steam a lot easier, making it so that the process is one that's a little more joyful than it is currently. If there is a pricing difference between regions, you'll know about it before hand, players will always receive a gift no matter what problematic factors might come into play and the game will simply show up, rather than the user having to jump through hoops to instal it.
However, in an instance where a receiver already has a game or simply doesn't want it, they can decline the gift and then the purchase is refunded to the buyer. Traditionally, that user would still be billed for the purchase, but no longer.
The scheduling system has also been improved, so now gamers can buy a game for a friend months in advance and know that it will be delivered on time - great for birthdays and holiday events.
The only time that gifting may be difficult to achieve is when there is a large price difference between regions. In those cases, Steam will now explain to you why there is a problem, but otherwise gifting should now be far more straight forward.
