Yes, I agree with both of you. Hezbollah is the winner, temporarily. Israel did not achive its goal, it has probably forced prisoner exchanges with Israel, and it has massively increased its stature among the Lebanese public and the Arab world. However, international attention has been focused on it and I think that it will result in the resolving of the Hezbollah question in Lebanon. In other words, this is quite possibly the first step to Hezbollah's disarmament.
This war has also further discredited the Bush Doctrine of using force to resolve issues in the Middle East. The IDF used all the force it could bring to bear, and could not do much damage to Hezbollah. Now it appears that Hezbollah may be tamed by UN peacekeepers (gasp!) and the Lebanese Army.
Iran and Syria have proved that if Israel of the US pushes them, they can push back and that they have a lot of influence in the Arab world. This was good for Syria especially, as it allowed them to curtail any further military adventureness by their main enemy, Israel. Their other enemy, the US, is tied down in that hell-hole of Iraq. Iran and Syria almost have free hand. However, as I said, this post-conflict diplomacy may lead to Hezbollah's disarmament, which would take a major tool away from Iran and Syria.
Lastly, this has added more proof to a notion that is growing in many people's minds. Essentially, I believe there is a belief worldwide emboldening the enemies of the US, as well as many other countries without first-rate militaries, that guerilla warfare is an equalizer in confrontations with more advanced militaries that the more advanced military has no answer to. This has lessons for China. As China becomes a major power, it will inevitably face similar situations. Howver, it's army is still in he process of being constructed, so it can learn the lessons of the Iraq, Chechnya and Lebanon wars and build counter-insurgency into itself from the beginning. As for the US, I would recommend increasing the Army to its 12 division size that it had during the Cold War, and training one or both of the new divisions as a specific counter-insurgency/irregular/low intensity fighting unit, much like the Army has Airborne or Armoured divisions. To clarify, this division/s would not be an irregular or guerilla force, but rather one designed to counter forces like that.
Edited to add-
Dark Eminence, I too wondered why the Lebanese Army didn't fight. But I was intriged by a video I saw on CNN today. In it Israeli soldiers move into Marajoun in Southern Lebanon, and go to the Lebanese Army complex. They are met by the commander, not a shot is fired. The commander was a brigadier general, and a Christian. He gave the Israelis tea, and talked with the Israeli commanders. One of the Israelis said something to the effect of "We've briefed Bush" and the Lebanese commander replied "Yes, we should brief Bush as well." Odd. VERY odd. Conspiracy perhaps? I'lll check Abovetopsecret.com.