I was in Beirut last year and enjoyed the city but was always a little on my toes. It didn't help that Hezbollah was located only a few blocks away! Never at any moment did we feel unsafe, but we took the necessary precautions and usually were only out-and-about in the company of our Lebanese friends. The hotel (beautiful Sheraton -- would highly recommend) was securely staffed.

All that to say... I would agree with Tango that it is a hard call with the Iraq situation. Personally, I would not be traveling to that part of the world at this time of year -- and I tend to blend in decently well. YMMV.