The "Black Box" would have had HL2: Episode 2, Portal, and Team Fortress 2. The "Orange Box", which has those plus HL2 and HL2: Episode 1, will be the only available option now. Valve had the following to say regarding those who already own HL2 and Episode 1:
"Those who purchase the PC version of The Orange Box will get three separate Steam product codes: One for the three new games, one for HL2, and one for Episode One. This way a PC Orange Box owner can give away their Half-Life 2 or Episode One unused Steam product codes if they don't need a copy of those games."
Does this strike anyone else as being kinda stupid? Maybe they'll make them available seperately on Steam.