We understand that Steve is very busy. I certainly don't mind waiting for his podcast.
But I think that, like golden said, Steve is losing a lot of casual and potential listeners. Just taking a glance at iTunes, you see many gaming podcasts, and Steve's podcast all of the sudden looks much less appealing do to the infrequent updates. I will always enjoy the podcast, no matter how sparse the shows are, but when the average person goes to iTunes looking for a good gaming podcasts, Steve's becomes one of the lesser appealing shows.