Valve just gave us a heads-up on the much requested Profile Privacy and Ignore features.
Very little detail we can disclose about how the actual implementation will look like, but a lot of requests have been considered and kept in mind during development. The following quote(s) from MikeBlas give us the information available:
I wanted to post a note about our plans for Profile Privacy and Ignore settings. I’ve done a bunch of work in this area, and the features are in good shape. I remain optimistic that they’ll soon be available.
Thing is, plans change and software development is an inexact science. Valve is a very fluid company, and that’s a key attribute of the company that leads to our success. While it’s important to communicate with customers, it’s also important to not come off as promising something that won’t be delivered soon, or might never be delivered.
As such, you see few folks willing to take the risk of saying something is nearly ready, or even coming soon–because the downside is so harsh.
So with the disclaimer in mind – we should expect some form of privacy and ignore features see the daylight soon(ish). With the amount of work gone into it – it will be interesting to see what it brings.
Source: Steam Users Forums