You can't follow this stuff day by day and make sense out of the big picture with hourly or daily developments.
BUT ....

..... news is that Iran is set to receive S-300 missles from Russia within weeks, deployable within 6-12 months. That coincides well with an Obama inauguration, and the story itself dovetails too closely for my comfort with Russia's protests about the European missile shield over our invitation to join us to protect Europe against Iran.
On Monday, it is reported, our naval forces joined the UK and France in maneuvers designed to show Iran that the 2-week window given them by Sec. Rice to respond to our demands that they declare a slowdown/cessation of nuclear development is a serious window. The maneuvers are said to be a practice run for a naval blockade of Iranian ports to keep refined oil from coming back into Iran.
So, here we have Russia and Iran on one side, the U.S. and NATO on the other in a situation that's boiling up. Obama won't do anything, so if it is to be done, it'll have to happen before 1/20/09. I don't believe Bush will do anything until after the election, if at all. Now, Obama flip flops and says Iran with atomic weapons would be a grave threat.
Here's his history on that:
MAY 18: "Iran, Cuba, Venezuela, these countries are tiny compared to the Soviet Union. They don't pose a serious threat to us. .... Iran, they spend 1/100th of what we spend on the military. I mean, if Iran ever tried to pose a serious threat to us, they wouldn't stand a chance.
MAY 20: "Iran is a grave threat. It has an illicit nuclear program. It supports terrorism across the regions and militias in Iraq. It threatens Israel's existence. It denies the Holocaust."
Today/Yesterday, he again calls them a "grave threat". He also said in Jordan, a flub, that "Israel is a friend of Israel's."

Okay, that was too easy pickins'.
Right now, Iran, Cuba, Venezuela and Russia are all threats to us, particularly if Russia puts bombers (or tries to) into Cuba.
How badly wrong can this man be and still be elected President? We'll soon find out, I fear.