This is not a pleasant read for a supporter of Israel: http://www.inss.org.il/publications.php?cat=21&incat=&read=1383. It's a brutally honest assessment of the many Israeli failures in last summer's Israel-Hezbollah War, and it essentially states that the next war--because we all know that there will be one--will be even more devastating for Israel. Simply put, Hezbollah learned far more from the 2006 conflict than did Israel. This is hardly a surprise, of course, given Israel is still led by Tweedledumb Olmert.
Leaving aside for the moment the fact that Eldad Regev and Ehud Goldwasser remain in Hezbollah hands (assuming that they are still alive), Israel had a tremendous opportunity to effectively eliminate Hezbollah as a force, or at least to seriously erode its military power. Instead, it tried to fight a war in a politically correct fashion, and the end result was a slightly blodied and completely unbowed Hezbollah at the end of the hostilities. Now, Hezbollah by most accounts has rearmed to the point where it is stronger than it was in August of 2006. Thanks, Mr. Olmert.