Ok, i succeded t download Steamupdate (early in the morning 9_9 )
1. This Update took me about a maximum of 5 minutes to download (3x 100%)
2. You have to log in ONCE (!) to use offline mode, thats atm the biggest problem ... (don't dare to delete "clientregistry.blob" that would undo your login ...

)
2. Once logged in you you can disconnect or what else you want and just restart steam (I advise you to disconnect, for otherwise steam WILL try to connect

)
3. When starting Steam it trys to find Valve (*urks*) Content Servers and after a while it ask you to retry or work offline ...
So download have fun and play ... gl and hf @ all
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For the once having probs, ask me perhabs I can help you ...