UPDATE: It seems Steam Guard is enabled for everyone. There doesn't seem to be a way to opt out of this.
The Steam security features that Valve announced recently is now live for anyone to use. Steam Guard in this iteration will just require an email verification to enable it. Once you’ve enabled it, you will have to enter a security code that will be emailed to you to log on to Steam on a different computer. It’s a good thing to guard against unauthorised access but I don’t feel like I want to go through this. One of the advantages of using Steam is that it’s easy to log on to your account on multiple machines. I wouldn’t want to go through hoops to do that now. Anyway, press release below…
As a Steam account holder, you can now take advantage of Steam Guard, a new feature of Steam that enables an additional level of account security. Your account may already be protected by Steam Guard, as the new feature automatically begins protecting your account once you've verified your email address with Steam.
With Steam Guard enabled, anyone attempting to login as you from an unrecognized computer or browser must first provide additional, one-time authorization. A special access code will be sent to your contact email address, and this code must be entered into Steam before your first login on an unfamiliar computer is complete. You will also be notified if any login attempts from computers other than those you've authorized occur. Steam Guard essentially acts as a form of "User Rights Management," where you as the user have greater control over access to your stuff.
For more info, check out this Steam support article
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