Installation Issue: Stuck in Allocating Disk Space During Installation (Steam)

I got around this by shutting down Steam (Steam -> Exit) and restarting it. Steam considers the game as installed, but now it cannot get a CD key.

Hey i had this same problem but i found a solution. You need to open steam and left top corner press steam then settings and go to downloads and there is clear cache memory, press that during the download when u have that allocating disk space thing open. Then just log in and it should download without any problems, but now i have another problem i can't get the product code because it can't connect to get it...

That's not why, that's because steam (apparently) sold The Sims 3 copies without actually buying enough keys from EA. They said "there were more sales than expected" and that they will buy new ones and share with us as soon as possible... But we can't play until that. 

mine says steam error cannot connect when i press show product key why are they selling the game if we can't play it???

I left it like that for ages and then just decided to restart. It worked then but another problem is that Steam cannot get licence keys from EA as they have run out so I can't play the game anyway. Will have to wait and see what happens.

again why is steam selling the game if u can't play it???

Exactly. I wanted to get the Show Time DLC for 5 dollars instead of getting only a DLC for 40 euros on Origin. You get Show Time DLC and the Sims 3 (you must have the Sims 3 first to get any DLC's from Steam), only for 5 dollars! Origin ripping off pretty hardcore...

Sooner or later, we shall not pass without the CD key...