Given what is known about the status of Iran's nuclear program and the concessions already made to Iran, how will any prospective agreement affect American interests and our allies in the Middle East? Will it, as President Obama has suggested, spur a new beneficial geopolitical equilibrium balancing traditional allies, like Israel and Saudi Arabia, against a longtime adversary? Or would an agreement likely empower an expansionist Iranian regime and further destabilize one of the world's most volatile regions?