What result are you and your friend hoping to achieve? Unless you're looking for (and are qualified for) employment or summer internships, I don't see much point in handing out business cards. I would go, attend lectures, meet people and have some business cards on-hand in case you're asked for one, but I wouldn't go with the intent of carpet-bombing everyone with your cards, or even of handing them out unsolicited.

While I'm sure many devs will be happy to give you a few moments of their time (in the appropriate setting), to be blunt you probably don't have anything to offer them just yet as (from what I gather) a pair of first-year college students.

Keep working hard at your studies, as ultimately *that* is your best bet to crack into this industry or any other -- don't be lured astray by the "glamour" of the game-development dream. In a couple years, when you're considering internships, then go press some palms and hand out cards -- something simple with your name that points them to your portfolio, resume, CV, a brief "about me" page and your contact information.

Way,
So you're going to PAX to be a "lurker"? If the answer is yes, then I agree, you don't need cards.
But if you meet someone and want to get his card, then it's only polite to give him yours. Even if you are a "nobody."
Read the networking FAQ (in FAQs link above).