[cdavid]

Actually, having an alpha of value x does NOT mean that 100 * x % are false. It only gives you an indication of the coverage of your experiment, which is useful when compared to other, independent studies.

I think most scientists don't understand the meaning of the p-value. There was an interesting discussion last year in the statistical blog community on that question, with leading statisticians involved in it: http://radfordneal.wordpress.com/2009/03/07/does-coverage-ma...