No one knows. They have not decided how to decide what the fees will be. I suspect it will end up being about 1% at the end of the day.
Woa.... a 1% bounty on network transactions could turn out to be quite a bit of dough even with a modest 10% turnover of BTC circulation per week. That comes out to 40+ BTC/block.
Yes, usually Bitcoin requires less than 1% fees for your total transactions, usually in fast sequential transfers and very small sums. A casual high value participation will not incur fees at all.