FTL drive could only exist if physics as we know changes radically. That could happen, but right now there don't seem to be gapping holes in physics.
I think the best course is to build huge space telescopes, with apertures big enough to spectroanalyze or even image extra-solar planets. There is a gold mind of science, and I bet it will completley revolutionize our understanding of planets and planet formation.
If by chance we find an earth-like planet this way, an atomic/ion powered spacecraft could probably reach it in a hundred years or so. What we learn this way will be probably surprise everyone -- maybe no life will be found and we are surprised by how rare it must be, or maybe life in a form we cannot imagine is found.
One of the reasons I don't believe in the Roswell big-eyed aliens is they are just too human, like Klingons or Vulcans on star trek. This is one place where Star Trek gets is wrong. I can't imagine that if we meet intelligent aliens they will look remotely like us. They could be like giant shell fish or who knows what, but it's wildly improbably they would like like us.