I don't think it's either that dire a situation, or that hard to find a solution. The US dealth with the Soviet threat, which was ten times more dangerous.
N.Korea has a few nukes. The US has thousands. So you can bet your bottom dollar that the day N. Korea really threatens someone with a nuke, they will receive one first. It sucks, but when you play with fire...
Second, I agree that Joph's idea or bringing N.Korea into the fold of civilised nation is a good one. But it will be hard, and will require China, S.Korea, and Japan's total comittment to the cause. Not impossible, though.
Another option, which I think the Rep would like, would be to build your super-duper Shield of Missile Protection that shoots Nukes from space, or something. After all, yu guys would've done it if it hadn't been for 9/11. So I am sure it's still on the cards somewhere in the WH.
The only reason the US should really worry about N.K. is in the distinctly improbably scenario that it would sell one of three nukes it has to some terrorist group. But NK are quite a way from being able to do that. I would worry much more about Pakistan, or some elements in the Pakistani government, doing that then NK.
So, if NK is unlikely to sell its nukes, why should the US worry? The chances of the US being hit are tiny. NK does not have the capabilities to do that yet.
Hence, the real playa in all this is China. They have nukes. They can talk to NK. The trade with NK. And, most important of all, they dont want some dumb-*** two bob puppet dictator fucking around with their economic development. So China, not the US, is the one that has the most to lose in all this. And they are the ones who should really move their asses to find a solution. You guys have enough problem in the ME as it is.
And the chances are that China will act. There is too much at stake. Whether they will act through cute diplomacy (trying to bring them into the civilised world), or hardcore diplomacy (threatening sanctions and more), remains to be seen.
But it would be naive to think China is just sitting pretty worrying about the Euro 2008 qualifiers while all this is going on.
I think you guys should be much more worried about whats happening in Afghanistan right now, than in NK.