While I accept that the state of US-Israeli relations plays into the extent to which the US constrains a possible Israeli strike against Iran, there are many other reasons which potentially limit this option on the Israeli side:

1) What does Israel think it knows about the Iranian nuclear program? What might it have missed, and how important are those elements? The issue of known knowns, known unknowns, and unknown unknowns is particularly important here.

2) How effective might a strike be against known targets? What would be the anticipated consequences of US non-cooperation (and hence potential unfriendly overflight of US allies--Iraq, Saudi Arabia, or Turkey)?

3) What effects would a strike have on Iranian behaviour: would it deter them from weapons development, or lead them to devote much more resources to it (so as to gain the ability to deter future strikes)?

4) What would be the other immediate and longer term consequences of a strike?

This isn't to say that the Israelis won't strike. It is to say, however, that IMHO these issues far outweigh anything that arises specifically from the israeli-Palestinian conflict.