Considering the relatively small scale of our solar system, stars, etc. in comparison with other in the galaxy that we only know are there through telescopes and mathematic calculations, I think the "1% of the galaxy can support life" theory is absolutely ridiculous. There are simply too many stars and planets in our galaxy for us to impetuously assume that we as living things are such a rare commodity in the infinite universe. We haven't even been able to travel to the edge of our own solar system!
Also, I think that given the implications of time and lightyears, the only way we would come across another species in space would be on the off-chance that they had superiorly-developed travel technologies and were primarily focused on space exploration. More likely scenarios would involve either us discovering intelligent life that was based on a planet, or intrepid aliens passing through our solar system to collect resources from our solar system before we even muster the technology for that kind of travel.
It's even feasible to think that this may have already happened, if what they theorize about past life on Mars to be true.
As far as wars, Humans would probably be stupid enough to develop their technology for something so impractical as space battles just to prove that it were possible.
It may very well be contact with other intelligent life that unites us as a species, but then we become racially-proud and seek out to destroy and control "alien scum".
The opposite could also happen, with those of us being utterly fascinated and desiring peaceful contact with alien species.
Such a thing could also cause a rift in our own species, as Humans tend to react to new cultures and discoveries in two ways; either fearful aggression, or awed fascination. Depending on the attitude of said intelligent life, this could either cause us to fight amongst each other in defense of the new alien culture versus our traditional pride, or it could cause those fascinated to be enslaved and the distrustful to fight the aliens in an effort to exact revenge for their lost brethren.
The possibilities are endless, based completely on the many facets of circumstance.