The new strategy is there is no strategy.
There certainly isn't any other conclusion you can possibly reach after Obama's televised address. The strategy he sets out is the same one his administration has long favoured, using drones and special forces while trying to empower the jihadists' foes on the ground. This has "worked" in Somalia and Yemen, in the sense neither al-Shabaab or al-Qaida in the Arabian Peninsula have launched attacks on the west, despite the latter having made a number of attempts. As for whether our allies in either country have been empowered, it's very much a secondary concern. So long as the high-ups in the groups are thinned out every so often, as has just happened with al-Shabaab, it goes down as a success.
Why then all the rhetoric about destroying IS, it being a cancer needing to be cut out etc, when it's obviously a long-term aim? Well, it's what he needed to do after he said previously there was no strategy, when he meant there was no new strategy. There still isn't, it's just you can make it look as though he's proposing something different by ratcheting up the language, sending John Kerry round all the "friendly" American-allied despots and getting them to say they're going to do something when there's little evidence they will based on how some of them are just as much responsible for the rise of IS as the Ba'ath in Syria and the Americans themselves have been.
If this was the intention all along, it's not clear if the message got through to dear old Dave. There he was declaring IS poses the greatest threat to the country since William the Bastard, with JTAC declaring it to once again be severe, and now it's not even apparent if the US wants us to help out by firing the odd Hellfire missile at a rag-tag bunch of wannabe headloppers. Despite the media leaping at Obama saying he "will not hesitate to take action against ISIL in Syria", that doesn't mean he's going to be authorising air strikes there any time soon. Apart from the Russians making clear their displeasure, any sustained campaign against IS will only benefit Assad in the short-term. If there really are "moderate" Syrian rebels currently being trained by the US, with Patrick Cockburn suggesting they amount to the last remnants of what was the Free Syrian Army, which was never an army in the first place, only now fully under the auspices of the CIA, the idea they can fight both IS and Assad at the same time is as ridiculous as it is amusing. The US can't possibly imagine they'll make the difference either; the hope presumably is the Saudis, Qataris, Kuwatis etc will come round to the US approach and start funding their controlled rebels instead of the likes of the Islamic Front or IS itself. This in turn will risk the non-IS jihadists going over to IS, but that apparently doesn't worry anyone.
The Syrian rebels are themselves still fixated on overthrowing Assad, not surprisingly considering that's err, why they rose up in the first place. Sadly for them the mission's changed: once it was about getting rid of the Ba'ath, only the west soon realised the rebels weren't going to be any better than Assad, in fact probably worse. Rather than admit we got all our predictions about the Syrian regime being doomed wrong, Assad "re-elected" and going nowhere, we settled on support for the rebels knowing full well neither they nor the government could strike a killer blow. Only we didn't count on the apparently defeated and broken Islamic State of Iraq morphing into not just IS but also al-Nusra, or the Sunni Arab states using them in their proxy battle against Iran. Or at least on IS becoming so powerful so quickly.
As for Iraq, the US is perfectly happy to send a few more units to the country, for allies to arm the Kurds and Iraqi government, and for neither to move all that quickly against the towns and cities IS controls. Unlike the panic-mongers over here, Obama spelled out how IS currently doesn't have the intention of attacking the west, being far too busy in both countries. No reason then to risk further unbalancing the fragility in Iraq; with the Yazidis mostly safe and other minorities having fled, the US is counting on IS once again outstaying its welcome amongst the Sunni tribes, just as it did back in 2007.
Moreover, Obama's reheated strategy is almost certainly the right one, despite its failure in Syria. If the intention was to really deal with IS and right now it would mean temporarily allying with Assad, something we simply aren't prepared to do, both out of the sheer embarrassment it would involve and of course down to how he's a chemical weapon using tyrant. Having morals is nice, but not losing face is far more important.
It would be great though if for once, just once, our leaders could admit how badly they've got things wrong. We hold our hands up: we're just as responsible for the rise of IS as either Assad or the sectarian Iraqi government. Now it's turned out this way, we're going to make it right by not making the same mistakes as we did before. The Americans, against the odds and to their credit, have reacted in a far calmer manner than our politicians have, regardless of Cameron's rhetoric not matching the legislation proposed so far. With the parties currently far more exercised by the little matter of Scotland potentially leaving the union, by the time parliament returns (assuming there is a no vote) the initial something-must-be-done stage might have passed. Just don't count on it.