War In Korea?

This closed circuit television video from Russia Today shows North Korean shells landing on the island of Yeonpyeong:

Does this mean war? Based on experience, one assumes not: North Korea’s provocations generally arise out of its desire to be bought off by the West. Still, the combination of crazy leadership, nuclear weapons and missile capability inevitably makes people nervous. Which raises, once again, the question why the Obama administration apparently views the acquisition of nuclear weapons by Iran with equanimity.
PAUL adds: The acquisition of nuclear weapons by Iran is much more ominous than North Korea’s development of a nuclear arsenal. As I’ve argued for years, North Korea is essentially a status quo power, albeit a somewhat erratic one. The regime isn’t out to change the world; it just wants to survive and enrich itself.
Iran, by contrast, is a revolutionary power that seeks to transform its region and to eradicate at least one of the states in the area. That state happens to be a traditionally close ally of the U.S.