1. YES! ET EXIST!!!!!1 discover with SETI or with my own project (Zonix Alien Ambassy, which searches the sky using saucer-shaped flying disks)

Benefits: great cool new technologies
Dangers: people screwing everything up with religious junk - time to face reality!

2. YES! TRANSMIT A BEACON FOR OTHERS TO FIND!!!!!!!1 although sending our exact location & tactical information to a (possibly) hostile entity doesn't appeal to me very much.

3. I run SETI@home to contribute to science, to prove something i already know, not to waste idle clock cycles while something useful can be done with them, and to compete with friends for packet-crunching records!!!!!!!!!!!!!111

My views on the project: let's all join in!!! Somebody give me 100 cpus and i'll hook them up to a SETI farm while heating an entire city-block with the processor-heat.

My suggestions: ehm... we need more TERAFlops, someone give me a multiprocessor ALPHA and all will be ok.