I am with Carl Sagan on the subject of extraterrestrial life. I think if they are more advanced than us then they will contact us on THEIR time table. Sure, we should send out a beacon. It should be as powerful and simple as possible. Just enough so that it is obviously not a natural phenomenon. I like the technological implications of the project. Processing power and such.
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.