1: Of course life exists elsewhere. I think they will find us first. Benefits include What is Life and what is after life here on earth. Dangers are they could be hostile and want to take us over.
2. I definitely think we should transmit a beacon.
3. I really want to know what is out there. That is why I run Seti@home. This was a great idea.
SETI@home and Astropulse are funded by grants from the National Science Foundation, NASA, and donations from SETI@home volunteers. AstroPulse is funded in part by the NSF through grant AST-0307956.