Half Life 2 Update #2 - Fixes for Stuttering Issues
1. Reduce your sound quality to Medium in the game options.
2. Go to the icon where you launch HL2, and open its properties (or go to Steam>Play Games>Half Life 2>Right-click on it and select Properties>Launch Options) and in the Target box add "-heapsize [memoryamount]" (without quotes), e.g. -heapsize 128000 makes the game use 128MB of your RAM. Try not to exceed half of your system RAM with this setting.
3. Go to your \Program Files\Valve\Steam\SteamApps\[username]\half-life 2\hl2\cfg\ directory, and create a new blank text file (right click and select New>Text Document), then rename it to autoexec.cfg. Open this file and copy and paste the following commands into it, then close and save it:
snd_mixahead 0.7
cl_forcepreload 1
sv_forcepreload 1
cl_smooth 0
4. Make certain you run Windows Defragmenter after Steam has registered and updated your system to play Half Life 2. You must run Defrag to ensure smoother gameplay because Half Life 2 is a huge install and though it may take a while it's a vital step.
straight from
http://www.tweakguides.com/, more to follow