It wasn't a rash decision. If you want the whole story, here's what happened. I was driving on the highway on a relatively foggy day. Car was riding fine - and was on cruise control. Had I been off cruise control, I guess I might have noticed that the engine was losing power (hilly terrain) but I didn't. I had the music on and was enjoying myself at the time. Suddenly I noticed that the car seemed to be getting cold, and I felt the air vents and noticed that the heat (it was winter) wasn't hot. I glanced at the temperature gauge and saw that the needle was pinned. I had no idea how long it had been like that, and I decided right then and there to shut it off. It was not a rash decision. It was a decision done to hopefully keep the engine from seizing, or any damage from occurring if any hadn't yet been done. That's when I pulled into the exit lane which I was next to at the time. Yanked the handbrake, put on the hazards and stepped on the brake as hard as possible.
Turned out the head-gasket had blown. No damage, amazingly was done to the engine (other than a temp sensor which died a month later after it was repaired.) I know it's very unlikely, but for all I know - keeping the engine running for 10 extra seconds might have warped/cracked the cylinder heads or done other damage.
As for the steam. I looked in my mirror when I pulled into the shoulder, and only now that I knew what was wrong, did I notice the trail of steam through the fog.