To prepare butter, cook wine over high heat in small saucepan until reduced to 2 tablespoons. In small skillet, heat 1 tablespoon of the butter. Add shallots and cook 3 minutes. Stir in cornstarch. Add reduced wine and cool to room temperature.
Combine cooled wine sauce and 1 teaspoon thyme with remaining 7 tablespoons softened butter. Hold over very low heat to serve melted, or refrigerate in molds to serve chilled and firm.
Preheat oven to 350°F. Heat olive oil in ovenproof pan over medium-high heat. Season strip steaks to taste with salt and pepper. Add steaks and cook 4 minutes on each side. Transfer steaks to oven and roast to desired degree of doneness. Allow steaks to stand 5 minutes before serving. Serve with sauce and additional thyme, if desired.
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