"The South Korean government now is saying a North Korean missile launch is not an imminent threat. Pyongyang, meanwhile, is hinting that all it really wants is attention -- and to enter dialogue with Washington. The North knows it has a lot to lose.* meanwhile, wapo:
I don't know which would be worse for the United States: an American shoot-down of a North Korean missile test, or an unsuccessful attempt to do so. The latter might remind the American public of the vast sums wasted on "defense," and provoke a discussion of the flawed strategy and policy behind missile defenses. That strategy assumes diplomacy will fail, and only our shield will protect us from irrational states."
"Former defense secretary William J. Perry has called on President Bush to launch a preemptive strike against the long-range ballistic missile that U.S. intelligence analysts say North Korea is preparing to launch."read the rest, be scared.
* laura has more