Well, I'm mainly talking about games. Valve still makes games, right?
For fucks sake yes.
Stuff that they've recently done:
Dota 2 (why wouldn't this be counted? I'll never play it but its certainly an interactive video game)
Portal 2 DLC
TF2 content/updates
Left 4 Dead 2 (wasn't there a major update recently?)
Half Life 3 (joking aside, we know they're working on it, Gabe said as much. No one has left the team, its not on the backburner, they're just not ready to talk about it or show it)