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Someone asked early in the thread about links for EU support for Israel membership in Nato. I did not find one for the whole EU, but Spanish ex-prime minister expressed support for the inclusion of Israel in Nato:
http://www.jpost.com/servlet/Satellite?apage=2&cid=1167467792055&pagename=JPost%2FJPArticle%2FShowFull
So, this idea is not as crazy as you make it out to be. Right now, the world is helpless to stop Iran from its nuclear ambitions. Inclusion of Israel in NATO would at least alleviate Israel's constant existential fear of annihilation. And I don't see how this inclusion would automatically mean that US will fight in all of Israel's wars. I think this is a very weak conjecture.