I think we are more likely to see a war with those swashbuckling pirates. That seems much more popular right now. You know, because we have so many pirates in the world.
Seriously, I just don't see Obama touching that can of worms right now. We can't afford to start waging war on another front until we tie up the loose ends in Iraq and Afghanistan.
Overall though, I would say yeah, NK needs to be dealt with, no matter what the Chinese think. They can have Yao Ming back if they don't like it. China don't want a war with us either.