Everything we know now about technology and technological progress says that SETI is a total waste of time. Unless our understanding of the universe is fundamentally flawed, there is nothing we will be able to find. This is why :
1. As radio technology advances, the signals become closer and closer to noise. Already, most digital radios today would be totally indistinguishable from noise when observed from lightyears away. Also, as the radios get better, the signals become more and more directional. It is reasonable to expect that in 50 years, all the radios used in most applications will use frequency hopping, very low power, ultra wide band, and will steer their signals to the locations of other nodes in a mesh network. 50 years is probably a pessimistic estimate for this.
2. If our theories about the Singularity are true, by the time our light reaches other stars, within another 1000 years or so we'll be roaring in on starships, running self replicating machinery that systematically converts all matter into more useful products. The presence of post-singularity humanity will be completely impossible to miss. Thus, the reason we cannot see other civilizations doing the same thing is because we are the first one in our region of space.