It seems like Bush's SDI will be useless.
Here is a short report about the succesful testing of a new maneurable warhead: http://www.msnbc.msn.com/id/4317546/
It is not entirely correct but I could not find a better english language report. In fact, it is much more interesting. This warhead uses the "deflection effect" on the re-entry to atmosphere - sort of what happens when you fling a rock to the lake in a way it will be reflected and jump few times before sinking. It allows drastic changes in the direction of flight - rocket no longer restricted to the fixed ballistic trajectory and can go around the SdI sites. It also increases the range and now you need much smaller and compact rocket to rich the target - it may give mighty complications to the tracking of missile' position and launch time
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It is forbidden to kill; therefore all murderers are punished unless they kill in large numbers and to the sound of trumpets. - Voltaire
Yeah, it was known all along that counter-measures would be much easier than further development of the defense system. Besides this relatively elaborate trick, you could simply include a cloud of cheap decoys in your missile payload. That didn't faze Reagan, and apparently doesn't give W any pause either. I guess they expect to remain ahead of those 'axis of evil' states even with the huge cost differential against them.
Well it depends on whether you'll even find a single low-tech missile incoming, or something like that. Then, an interceptor could be good to have.
And of course, if you happen to have friends/patrons in the military industry who you'd like to give many many millions of dollars in government contracts.