Who are these Gol Dern Millennials we keep hearing about (and what do they want)?

The term ‘Millennial’ pops up incessantly on blog posts that I read or in tweets and Facebook posts of people or groups I follow, and I can’t seem to get the term out of my head right now.  
My wife and I watched the original ‘Star Wars’ on Friday evening with our daughter Emma who has been battling Mono and, of course, early on in the movie, you learn about the ‘Millennium Falcon’ and it immediately made me start thinking of these Gol Dern Millennials again!
Well, as a marketer and advertising professional, I have to embrace that term and those it represents, because they are becoming (or have become) my ‘bread and butter’.
Wikipedia would give a drawn out definition of the term Millennial, but it would seem that within their definition that authors William Strauss and Neil Howe, in their book Millennials Rising: The Next Great Generation, have given the best description of the birth year range of this group as being those born between the years 1982 and 2004.
Of course, there are other terms given to this demographic, such as Generation Y, Generation We, Generation Next, Echo Boomers, but they are all referring to those ages 9 to 30/31.  

What are the tendencies of these folks and what do they want?

• 41% of millennials have no landline at home and rely on their cellphones for communication. Pew Social Trends]
  
• 65% of Millennials say losing their phone or computer would have a greater negative impact on their daily routine than losing their car. Zipcar]
  
• 48% of Millennials who say word-of-mouth influences their product purchases more than TV ads. Only 17% said a TV ad prompted them to buy. Intrepid]
  
• 63% stay updated on brands through social networks. Ipsos]
  
• They elected our president – 60% voted for Obama in 2012, 66% in 2008 Pew Research /Huffington Post]
  
• 46% of Gen Y wants to start a business in the next 5 years. Employers Insurance]
  
• 65% of Millennials say losing their phone or computer would have a greater negative impact on their daily routine than losing their car. Zipcar]
  

The list of stats can be found and goes on and on...

As an advertising guy, for me some the most important stats to look at are those related to purchasing tendencies.  For instance, knowing that almost two-thirds stay updated on brands through social networks tells me that my clients need to have a multi-channel approach to their advertising and marketing, not just traditional means.  Also, knowing that our world has become very mobile, tells me that clients' websites and apps should be responsive to the ever-changing landscape of mobile.
Through my reading and personal experience with some clients recently, I have come to know that this generation is very mobile and tech savvy, rely heavily on the word-of-mouth advertising of both their physical network and their electronic networks, embrace change and wants to make a difference where they can, and most importantly represent a group that is ready to spend money (according to Hanson Dodge http://bit.ly/19PiJ5e).
The last point is exactly why we have to continue to embrace Millennials,..my bread and butter now, and in the foreseeable future.