None of the arabs are THAT stupid. Israel has the weapons (in strategically significant quantities) AND the means to deliver them....Iran has neither.

Israel also has theater anti-missile defense systems, which would work fine against any delivery system the iranians could come up with any time soon.

The arabs prefer Israel in it's current condition...moderate with porous borders, so they can conveniently harrass Israel at their leasure. If they force a big showdown, Isreal will win, and then turn itself into a fortress...physically and politically.

But it would be hard on oil prices in the short term.