Not a feasible option. Why?
1. If US or UK whack Iran, must do it to ensure all the nuclear
& missile research and storage facilities completely destroyed
(not just go in and rescue hostages). A superficial attack will
result in ballistic missile attacks by Iran, or attacks by the
Iraqi Shias allied with Iran on US/UK forces in Iraq, perhaps even
missile strike on Israel from Iran or Hezbullah in Lebanon (which
risks a much wider Arab-Israeli war). Also, many Iranian nuclear
labs are either in residential neighbourhoods (ie. collateral
damage, international outrage on the attackers) or too deep
underground even for the latest "bunker busters" bombs.
2. Lack of political will. Blair's govt will face political revolt
by his own Labour govt, even if if it is over 15 UK sailors, unless
there are no other options for their release. US Congress is now
Democrat-controlled, no stomach for another war after what has
happened in Iraq.
3. The Brits have under 5000 soldiers in Iraq - not enough for any
large-scale operation. US Forces (130,000) are severely depleted in
Iraq theatre, most units, like retired Gen. McCaffrey said, at
breaking point (under 50% op readiness). Air war alone is not
enough to get rid of Iran's nuclear & missile programmes, boots
on the ground are seriously needed to ensure Iran won't have
nuclear weapons in 10 years. An invasion and possibly occupation is
required. And Iran is not like Iraq in GW2 - they haven't been
weakened and revenues from recent high oil prices have allowed them
to go on a shopping spree for Russian arms lately. An
attack/invasion will require hundreds of thousands of troops (and
very high casualties) that US cannot handle right now.
4. Gulf states like UAE and Bahrain will not allow USAF to stage
attacks on Iran from their bases, which means planes may be limited
to Navy carrier-borne aicraft or from distant Europe (limited
number of flights due to air-refueling requirements).