Giardia transmission in the backcountry is usually between hikers — fecal oral transmission — not from the water supply. Subject of much debate until fairly recently. Livestock can contaminate streams with giardia but this is probably inconsequential. Take same precautions when handling animal fe ces (that's profanity, WTF) as human fe ces. Common sense. Also, more prevalent among g ay (that's profanity too!) men. I will let you consult other sources (perhaps the CDC website) if you are interested.
Giardia is present often at fairly high levels in many municipal water supplies. Vail used to be the giardia capital but the city has since overhauled its water purification system. The Sydney water supply often contains high levels of Giarda. Thus many of us are immune from previous exposure.
Giardia infection is very often completely asymptomatic. Symptoms when they occur are generally cramping and flatulence. Rarely causes much water loss or dehydration. Onset is usually 10 days to 2 weeks after exposure. If you drink some "bad" water and wake up the next day with diarrhea, it's not giardia! Giardia is generally regarded as a self-limiting illness (no treatment indicated) but drugs are often used. Effectively treated with tinidazole (single dose!) or metronidazole. Testing stool for ova and parasites is futile. Treatment based on suspicion.
Most surefire way is boiling — for giardia just bringing the water to a boil should be enough. Personally, I'm inclined to filter or boil. But I'm a bit prissy about these things.
Depends on where you're going. Wouldn't be terribly freaked out about Giardia in the water. It's quite likely in the water you drink at home. It's certainly in swimming pools. Illness is often asymptomatic or very mild. Poses a problem in immunocompromised. If you have AIDS, should boil at home too.
If you are traveling to places where amoebic dysentery is a problem, yes, that's something to get excited about.

