SFGate,
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/06/09/ED60115QRO.DTL "Khamenei does not seek these negotiations because he desires U.S.-Iran relations, but rather he seeks them more out of necessity. Iran's economy is fragile: It suffers from the highest rate of inflation in the Middle East and a lack of foreign investment. It is stymied by the threat of an American attack, and increasing pressure from Arab countries concerned about Iran's growing regional power. Iranians cannot count on their Arab playing cards (Hamas, Hezbollah and Iraqi militia groups) forever. Iran's Shiite allies in the Middle East identify themselves as Arabs (rivals of the Persian Iranians) first, and then as Shiites, indicating that their support of Iran will only be lukewarm. In order to overcome these domestic and regional obstacles, Iran must end the no-peace-no-war situation with the United States. Otherwise, the consequences could be disastrous.
Obama's willingness to open talks with Iran suggests that he, unlike McCain, recognizes this reality - and that his foreign policy approach is far from naïve. By opening a dialogue with Khamenei, the next U.S. president could seriously undermine general international perceptions of Ahmadinejad's power, while bringing Iran and the United States closer to reconciliation."