Link to Sharing FAQ, maybe you'll find some better answers
Anyway, for first 3 points/dots answer probably is NO, it looks like you can either play or share games.
Library - whole catalog, no custom libraries (yet, maybe they will do that).
1) Answer probably is no. Mostly because of when you share you lock your library out, and you need access to it to start playing.
2) Yes, he can play your games if you're offline.
3) Yes, only one online person at a time can play your games.
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Then all this "sharing feature" is just a more convenient and easy way to share your credentials and password without the risk of being compromised.
One can always log in to Steam from several computers download his games and play them in off-line mode.
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Maybe I didn't understand quite well what is written in the FAQ but I'd like to know what is the deal with DLCs. For example: me and my friend both have Dishonored but only he has the Knife of Dunwall DLC. If I'm playing his DLC will he be able to play the basic game without the DLC or even the DLC itself?
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I wonder what happens with cards/archievments gotten while playing a game shared library
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It seems highly unlikely that cards will drop unless you actually own the game...
Achievements will register on your account in the usual manner.
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Same thing that happens for free weekends... you get no card unless you actually own the game, but achievements/saved games are stored on your account.
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Let's suppose the situation is like this. My friend wants to play my shared library, obviously he has to be online. Now what I'm asking is.
Can a friend and I share a library and both play at the same time?
No, a shared library may only be accessed by one user at a time.
Also is this a possible scenario?
I can share my library with a friend of mine and he can share his with me.
1) We both must be online so: I can play his games and he can play mines.
2) When I’m offline he can still play my games and eventually I can play my games too while I’m in offline mode.
3) I can’t play game 1 (or any other game for that matter from my shared library) while my friend plays game 2 (from my library), while both being online.
Thank you guys!
Sorry if it's already answered but it's a mess to search specific words in this thread.
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