I think it's a little off to refer to late-gen X & gen Y as a "Generation That Has Only Known War". The U.S. military is smaller and more culturally distinct from the rest of the country than it has been at almost any point in the past century. Most of us have experienced the "war on terror" only through news channels, political rallies, taking our shoes off at the airport, and perhaps a friend or friend of a friend who served in Iraq or Afghanistan.
This is part of what makes the national catharsis at the death of Osama bin Laden a bit more bizarre. If you lived through it on the Eastern seaboard, especially New York or DC, I think I get it. But for the rest of the country I'm not sure it has quite the same resonance.