As would be expected, Palestinians are celebrating Nasrallah (the leader of Hezbollah) as a new hero. Its a shame that the Israelis didn't manage to kill him. I highly doubt that the international community will force Hezbollah to disarm; this new ceasefire probably wont last.
The following is a summary of Arab military efforts by a reporter in northern Israel. Its completely true, and pathetically so. The rest can be read here.
“Hassan Nasrallah declared victory today,” I said. “What do you think about that?”
He laughed. And of course he would laugh. Everyone in the world knew Nasrallah would declare victory no matter what if he was not in a cage and if he still had a pulse. The Arab bar for military victory is set pathetically low. All you have to do is survive. You “win” even if your country is torn to pieces. The very idea of a Pyrrhic victory doesn’t occur to people who start unwinnable wars with the state of Israel.