Declaring their intention to achieve at the earliest possible date the cessation of the nuclear arms race and to undertake effective measures in the direction of nuclear disarmament,
While it's a noble goal, the text there is a bit nebulous as to what needs to be done and when.
Iran has drawn the rational conclusion that a known bully and coward will be most reluctant to assault a nation with the means to make an attack very, very costly.
There's no doubt that that's part of their calculus. And there is a logic to it if one doesn't want to work with the existing world order. (They'd advance a lot further a lot faster if they cooperated with the West more, IMO.) However, remember that North Korea and Pakistan and Iran started their nuclear activity long before GWB was in office. Iran's apparently had a covert nuclear program [link|http://www.armscontrol.org/act/2003_11/Shaffer.asp|since the early 1970's] - one that continued after the Shah's demise.
[Begin tongue-in-cheek:]
Given that, we yet again see that it's all Jimmy Carter's fault.
[image|/forums/images/warning.png|0|This is sarcasm...]
Cheers,
Scott.