From today's Washington Post: "Iran halted its nuclear weapons program in 2003 in response to international pressure, and while it continues to develop an enriched uranium program, it apparently has not resumed moving toward a nuclear capability, according to a consensus judgment of the U.S. intelligence community released today by Director of National Intelligence John M. McConnell."
That's the good news. Here's the bad news: "Intelligence officials noted that by ending the covert weapons program, Iran could continue trying to develop the capability to process uranium for use in power plants and remain within its treaty obligations, as long as its efforts were conducted openly. They added that gaining the capacity to enrich uranium could aid a future weapons program, should Iran want to resume one."
Therefore, despite the spin the mainstream news media is putting on this, the Bush administration response is the right one: now isn't the time to take pressure off Iran. Rather, we should keep the pressure on.