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how is it as a service? how similar to steam? any disadvantages over steam? advantages?

if i bought a hard copy of a game they sell, would i be able to activate it on their service like you can some games on steam?

Hammer, Impulse similar to Steam, but not as extravagant IMO. I believe you will have no choice but to use Impulse for Sins, as the only way to update the game is through Impulse, so you are stuck with it. I have 3 games through Impulse: Demigod, Sins, and Mass Effect 2. I usually only run Impulse when I play an Impulse related game, otherwise I have it turned off.

I believe you can install the game through Impulse you just have to register the CD key with your Impulse account. The last install I did (after my HD crash) I was able to just install Impulse, login to my account, and tell it to re-install Sins. Very simple.

ah - so even if i buy dvd version i will have to install impulse to update Sins, right?

Correct.