Karim Sadjadpour made an important point in yesterday's FT:
The WikiLeaks revelations make clear that Arab officials believe Iran to be inherently dishonest and dangerous. The feeling is probably mutual. But they hide perhaps a more interesting issue, namely what type of Iranian government would actually best serve Gulf Arab interests.
President Mahmoud Ahmadi-Nejad and the Islamic Republic may be loathed, but equally the advent of a more progressive, democratic Iran would enable Tehran to emerge from its largely self-inflicted isolation and begin to realise its enormous potential. In the zero-sum game of Middle Eastern politics, a democratic Iran would pose huge challenges to Persian Gulf sheikhdoms.
(Hat tip: Norm)