Rather than focus on the second-order effect - the consequences of Iran's possible acquisition of nuclear weapons - Israeli analysts should consider the primary issue, namely the strategic zimzum [2] of the United States. The correct questions are: 1) can Israel act as a regional superpower independently of the United States, and 2) what would Israel do to establish its regional superpower status?
The answer to the first question obviously depends on the second. To act as a regional superpower, Israel would have to take actions that shift the configuration of forces in its favor. No outside analyst has sufficient information to judge the issue - with the best of information a great deal of uncertainty is inevitable - but there are several reasons to believe that an Israeli attack on Iran would establish the Jewish state as an independent superpower and compel the United States to adjust its policy to Israel's strategic requirements.
First, the Sunni Arab states have a stronger interest than Israel's to stop Iran from possibly going nuclear. Israel, after all, possesses perhaps two hundred deliverable nuclear devices, including some very big thermonuclear ones, and is in position to wipe Iran off the map. But none of Iran's Arab rivals is in such a position. The Saudis have done everything but take out a full-page ad in the Washington Post to encourage the Obama administration to attack Iran. Prince Saud al-Faisal, Saudi Arabia's foreign minister, warned on February 15 that sanctions were a long-term measure while the world faces a short-term threat from Iran. Egypt reportedly has allowed Israeli missile ships to pass through the Suez Canal en route to the Persian Gulf.
Secondly, Russia well might prefer to deal with Israel as an independent regional power than as an ally of the United States. A stronger Israeli presence in the region also might contribute to Russia's market share in missiles and eventually fighter aircraft. Russian-Israeli cooperation in a number of military fields has improved markedly during the past year, including the first-ever sale of Israeli weapons to Russia (drones) and Israeli help for the Russian-Indian "fifth generation" fighter project.
http://www.atimes.com/atimes/Middle_East/LB18Ak01.html