In this piece, the author argues that finding only the components of WMDs in Iraq, rather than stockpiles of WMDs ready to go, means the situation is rather worse than better.
All kinds of squirmy things are being found under rocks the Bush administration has kicked over, which in the opinion of the peace lobby amount to nothing, but which on the contrary, exceed the worst stated fears: a virtual WMD manufacturing industry. Don’t worry boys, there are no raptors in the cave. Just several thousand harmless-looking striped eggs.
In other words, a number of rogue states have been cooperating in the design and production of these devices, and Iraq is only the tip of the berg.