Just a quick thought on the War on Terror -- if President Obama will allow me to use this phrase:
Most conventional wars have several fronts or theatres of battle. The first front in the War on Terror -- Iraq -- has largely been won, at least for now, according to most experts. The second front -- Afghanistan -- is still being waged with an unknown outcome, and a third front, Pakistan, is ready to erupt.
And after that?
On the positive side, groups like Al-Qaeda are running out of unstable nation states where they can find safe haven. On the negative side, there are several states -- Egypt and Saudi Arabia, for example -- which could become unstable with enough meddling.