I don't think you understand the nature of middle east political rhetoric. This is grandstanding, not a homicidal maniac bent on self destruction.
If Iran got the bomb, all the players would be more likely to take it to that extreme, not just Iran, and on the other hand, maybe a dose of cold war is exactly what the region needs. Not worth the risk of course, but as long as were playing 'what if' it would be interesting to see what would happen to the if Israel and the US were forced to take an Islamic nation seriously.