I swear I came up with that phrase, but even if I didn't it's true: Admixture (that's what all those percentages are called) are wildly inaccurate, probably CAN'T ever BE accurate (no matter how much they work on it), and therefore have no real genealogical value. It is truly "for entertainment purposes ONLY!"
That's the aspect of the test that's advertised, but it's important to realize that there are OTHER aspects of the test that are VERY useful, genealogically. Specifically, you get a list of other test-takers who match your DNA, as well as a quantitative number that tells you how WELL they match. If it's AncestryDNA, there's something called DNA Circles that can be helpful too.
Since a Y-DNA test is - by definition - confined to a tiny slice of your ancestry (your paternal line), the fact that admixture is in the results tells you right away that this is NOT a Y-DNA test, so the talk about "male DNA" being passed down is not relevant, regarding his test. This has to be an autosomal test - involving, at a minimum, the 22 pairs of chromosomes that don't determine sex.
I should also add that since your father is a generation back from you (again, by definition) HIS DNA is inherently more useful for your genealogy on his side than yours possibly can be. So if he's willing to share his results, there's no reason at all to wait on yours.
As far as the case of your dad's gt-gt grandfather from Alsace-Lorraine, the value of the DNA result is that if you can identify other descendants of that ancestor in your matches, it confirms that you really are his descendant. Further, some of those other people you match might have invaluable additional information about him.