Hi Gary!
It does indeed look as if Israel has backed down, at least for now, and yes to save face they are definitely spinning, some fantastical narratives- Been reading a bit today some of the claims are over the top, from anonymous officials etc.,

Yes, the missile defences looked very effective- Managed to see a few videos of interceptions as they took place. Not sure how many were intercepted vs how many got through but I can’t find solid info on what was hit vs what Israel is claiming hit vs what Iran is saying.

I’ve seen reports that Iran has the Russian s-400.

Forbes 2023

Israeli officials believe that a potential Iranian acquisition of advanced Russian S-400 air defense missile systems could complicate a potential strike against that country’s nuclear program
https://www.forbes.com/sites/pauliddon/2023/03/16/would-russian-s-400-missiles-constitute-a-game-changer-for-irans-air-defense/

Then there were reports Iran did receive some of these systems earlier this year
Unconfirmed

https://bulgarianmilitary.com/2024/08/06/iran-receives-first-deliveries-of-s-400s-from-russias-almaz-antey/#google_vignette

“Reportedly, on August 2, a Russian transport aircraft was observed landing at Tehran International Airport. The aircraft in question was an Il-76TD operated by Gelix Airlines, which is known for being used by Moscow for military deliveries under the guise of a civilian carrier, lacking any military insignia. It’s plausible that this flight marked the first delivery of the S-400 systems, despite lacking independent confirmation.”

“Perhaps the US told Israel they would not back them in an all out war. ”

They might have? Or maybe they won’t back them now but will after the election? Or maybe they won’t back them at all?

“This result suggests to me that this may end the threat of WW3, at least in this area of the world.”

I hope you’re correct!!! I’m less optimistic. What is concerning to me is that Israel is very aggressive in that region. They are the mini me to the US’s global hegemony. They’ve wanted their Greater Israel for sooo long now, I can’t see them giving up on this idea. But, who knows? As always I’ll keep an eye on the situation to the best of my ability.