Hello!
I have nearly the same problem. I tryed to run steam and then came the error with the compatibility mode. So i checked if its turned on and it was not so i pressed cancel. Steam seems to work now but i can't see any Servers in any Game i have. After that i found this forum and deletet the steam.exe entry in the 2nd Step ( because in 1rst Step wasn't any steam.exe entry). It didn't change anything. I even tryed that with deleting the entire Valve folder in the registry but there was no folder. And now i become more and more desperate. Please... I NEED YOUR HELP!!
ps: sry for bad english
edit: the problem with not finding servers belongs to Call of Duty Black Ops....... i just rebooted my router and it worked again.
And THX for the help with the compatibility mode problem!