As someone on one of the many blogs I read every day has stated, Israel is involved in a proxy war. Hamas is standing in for Syria and Hezbollah is Iran's Rockem-Sockem Robot.
For the moment, Israel seems to be content to go after the proxies in an attempt to diminish Syria's and Iran's influence in the area. But if it comes to it, Israel may decide to forgo fighting the proxies and strike directly at the masters.
Both Syria and Iran have made no secret about their desires to destroy Israel. Iran is far more powerful than Syria and is more likely to take direct action against Israel. Should that occur, the gloves would come off and Israel would strike hard and fast. And should Iran threaten a nuclear strike I believe Israel would strike first, pre-empting the mad mullahs.
The world watches nervously, waiting to see what will happen.
Let us hope that it progresses no further.