Talk to Tehran
Fareed Zakaria has some wise reflections on how to deal with the Iranian nuclear issue that goes along the same lines as I have been advocating here.
With the military option de facto a non-option, there has to be an intense efforts to develop the political option. As this is unlikely to lead to a rapid solution of all issues, it's a question of managing the issue over time in such a way that the incentives for the Iranian leadership to go nuclear are gradually diminishing.
There are examples of this succeeding in other cases in the past, although there are of course also examples of it failing. Both Pakistan and India went nuclear in spite of intense pressures to prevent it.
It's time for faresighted statesmanship on a very critical issue.