Listen, the way it works, is that steam launches the .gcf from your steamapps folder. The Half Life folder that's in steamapps/<yourname> is a folder steam creates once you launch the game. If you delete it, when you'll run the game it'll just recreate the folder.
The only difference it'll make is that you will lose your preferences, like settings, favorite servers and such.
So just delete that folder, it recreates it in a sec.
