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What can happen is that some keys can be rewoked or removed from your account, for which you will get steam alert (notification), but this had never happened to me before except once that developer pulled back his giveaway.
Regional keys mean that those are only useable in specified countries. For example if you buy Dirt Rally key for Latino America (LATAM) you wont be able to use it in Europe, America and other continents except Latino America. So thats the only worry about it.
Worst case, you can't even add it to your account because the key is region restricted for activation.
"This is a restricted gift which can only be redeemed in these countries:..."
After 7 days (Steam security delay) they become normal gifts. I can give them away, I just can not activate them myself.
Steam keys never where able to put into the inventory as a gift...and i highly doubt something changed in that matter
Keys you are activating on Steam are Steamkeys.....otherwise you could not activate them on steam.
And from all region locked keys i had to activate not a single one magically got converted into a steam inventory item.
So either you talk about steam gifts (which in theory should not be able to gift to a person if the gift has a restriction) or about.....no idea what you could be talking about other than that...
Might be related to "magic" not being involved... and not existing.
So you are saying that if I have this key 46HFY7-HNMS-76376JH-4644 and it is for a game that is Japan-only, I can not copy / paste that key into Steam chat with someone in Germany and click Send? What's going to stop me?
That is exactly how I've felt through your entire post.
THIS is possible of course.
THIS is not possible and never was. If you try to activate a key for a game that is region locked for you it just tells you " you cannot activate this key in the region you are currently in".
Thats it. The key does not get used and it also does not magically transform into a Steam game in your inventory.
The only games you can store in your inventory are Steam Gift copies and even that is no longer possible since last year. Only old Steam Gifts still floating around before that time can still be kept in inventories.
You have 4 Steam Gifts in your inventory. That is ALL. Also that are free copy Steam gifts that the publishers gave out if you bought another game from them. (Except Tristoy) I had those exact same ones myself.
What does that proof exactly? Nothing what you wrote.
So I think that it might be possible for me to add the game Shenmue (for example) to my Library, but there are no garantees.
It is up to the developer if they allow me to play the game in a region that you cannot purchase a game.
Steam has the right to stop you from playing this game.
So, in the worst scenario, I will waste $30 on a game I cannot play.
I think that I can live with that, as long as Steam doesn't delete or ban my whole account. I don't want to lose all my games ;)
Thanks for the advice everyone.