If you don't have the need to crunch a helluva lot of data...3D model rendering, hardcore financial analysis (forecasting, etc), scientific modeling (weather, etc) then I would donate my CPU time to a good cause.
Aliens? Yeah, a bit silly but sorta neat.
Decryption? Hmm....meeebie. I do have quite a few files I'm attempting to open by running brute force attacks on them. Not RC5, personel stuff. ;-)
How about drug research? Scientific staff are often underfunded and could use distributed computing instead of renting time on a lousy "supercomputer". I've got a mahcine in my office dedicated to Folding@Home.
Helping to find a cure for cancer seems legit to me.
Have fun!