Yes, download the beta instead.
I'm getting the same error with Team Fortress 2 Beta:
"The Steam servers are currently too busy to handle your request. Please try again in a few minutes."
I was able to download 'Superbrothers: Sword & Sorcery EP' though, so I don't think there's a problem with my connection to Steam, although that game doesn't run, and no error messages either.
The only games I have been able to download and run so far are 'Amnesia: The Dark Descent' and 'Space Pirates and Zombies'.
LIMBO, Braid and Psychonauts are listed as available, but don't download any files and obviously don't play.
Here's a nice list of working and non-working games:
http://www.reddit.com/r/linux_gaming/comments/15502w/the_big_updated_list_of_which_steam_for_linux/
Update: Now downloading Team Fortress 2 (not the Beta) on iBurst at 220KB/s.
Must have been something weird with my work connection.
Update2: It turns out 'Superbrothers: Sword & Sorcery EP' requires the 32-bit version of libcurl.so.4 and I have a 64-bit installation of Ubuntu 12.10.
Solved by doing the following:
Code:
$ sudo apt-get install libcurl3:i386