Eh, nukes keep Israel proper from being invaded.
If they used them offensively I wouldn't be surprised if Russia wiped Israel off the face of the map.
Israel has a huge air superiority advantage. However Iran has been working hard to develop military doctrine and strategy to compensate.
Iran has a huge ground force advantage.
As things sit now, i think it would likely end in a draw. Israel controls the skies, Iran controls the ground. A draw is a win for Iran, because they would win any war of attrition.
The real deciding factor would probably be Iranian navy, but that would be dependent on Iran having anti-air that could protect their navy.