My theory:
The current Terror Threat is supposedly based on "documentary evidence" obtained during the raids last week by our good buddies the Pakistanis. You remember them, the one's Bush asked to be sure and capture a "high profile" during the week of the Dem Convention? So how surprised would you be if it turned out that the documents are fakes? How shocked would you be if the so-called attacks are fake?
Here is my prediction, there will be an "ATTEMPTED" Terroist Attack on NY or Washington carried out by Pakistani or Saudi Intelligence operatives posing as terrorists for the sole purpose of allowing the Bush Administation to successfully thwart an attack. The perpetrators will be captured and "tried" and never heard from again only to live happily ever after back home.