This article in Spiegel Online International lays out a rationale for predicting an Israeli air attack on Iran's nuclear program before the end of the year. The reasoning goes as follows: Israel cannot tolerate a nuclear-armed Iran. Israel believes diplomacy and sanctions have failed utterly. The U.S. won't bomb the Iranian nuclear facilities. Israel needs the tacit acquiescence of the U.S. to carry out the bombing, and won't have it after a new President takes office. Therefore, Israel will bomb Iranian nuclear facilities before the end of 2008.
I don't know whether the article's reasoning is accurate or not, but it surely is plausible. Iran's reaction is likely to be ugly, and possibly self-destructive.
