Yes extraterrestrial life does exist. There are TRILLIONS of starsystems, at least one other is gonna have a shot. Though I often wonder if Binary systems are capable of supporting life since 70% of systems are binary. At this point in humanities evolution we are far to wrapped up in immediate gains to worry about anything as trivial as SETI as a race. I figure this will become a priority sometime after global warming is taken seriously... In the mean time unless SETI gets REALLY lucky like, finding the winning lottery tickets to every state lottery in the U.S. for that week on the sidewalk on their way to a Britney Spears concert, humans will not make contact.

This leads into the last question, in this epoc of human history we are for more likely to be contacted then contacting any ET ourselves. I for one hope we don't... All ethics are subjective and relative. This planet is in a huge amount of trouble if we are discovered by a race with Ethics similar to our own. They will recognize that life bearing planets are not that common and so being far more advanced then these dirty savages, they will wipe us off our little planet or enslave us. That's my best guess anyway, based on how this race has developed to treat each other and those we consider beneath us. For these reasons I don't think we should be contacted anyone outside the planet till we get our act together here. Although, if we did send something I would vote for Music. Music is a cultural universal, however it is completely unique to humaity and I wonder if it would be something new to ET.

I run SETI at home because I love the idea that my computer is being productive even while I am not. I think the project is a great idea and is symbolic of what humanity can do to create public goods when we come together for a common dream.