Amer, I personally agree that having some sort of 'balance of deterrence' between the sides may actually prevent an outbreak of hostilities. I could even live with an Iranian nuclear bomb. The problem is that Hezbollah and Hamas are non-state actors who do not necessarily share the responsibilities associated with the conflict. Are the Lebanese and Gaza residents happy that Israel bombed the hell out of them? Who is Israel going to blame if (or when) Hezbollah and/or Hamas initiate a conflict? Israel today is like a very big elephant, somewhat confused and unsure of it's surroundings. Not wise to throw rocks at her.
from the article: Satellite images reveal: Hezbollah training in Syria missile base