Agonist reader JPD points out in the comments that events may just be getting warmed up in Israel and Lebanon:
The IDF wrapped up its operations in the southern Lebanese village of Bint Jbail on Saturday and withdrew most of its troops from the area. At the same time, the army was gearing up for a new ground incursion into Lebanon.
Also Saturday night, the IAF struck a road along the Lebanese border with Syria that the IDF said was being used by Damascus to smuggle weapons to Hizbullah.
Indeed, Stratfor who has predicted a large ground incursion since the early days of the crisis seems to agree:
The widening of the war is not a serious military option. A cease-fire at this time would be politically disastrous for Israel. It must, given its options, try to inflict a decisive defeat on Hezbollah, and a cease-fire would deny Israel that opportunity. The political effect on the region would be dramatic. It may well be that the Israelis have no appetite for casualties or counterinsurgency. It may be that their view of Hezbollah is that it is more an irritant than a threat. Nevertheless, the current evolution of this conflict forces them to make some dramatic decisions.
We note that the war is routinized. That should not be taken as proof that more dramatic events are not being planned. If it turns out that Israel declines major ground operations and accepts a cease-fire, the political map of the region -- geographically and psychologically -- would change decisively and to Israel's massive disadvantage. Thus we must assume that with cease-fires approaching and no decision on the ground, Israel will shift its strategy.
I understand the Israeli calculus, but I think they are probably too late. I just don't see how it is impossible for Israel to uproot Hezbollah in as short a time as I think Israel has left with global pressure accelerating.