Before anyone gets started on the the-serbs-are-so-wonderful circlejerk, may I point out that the serbs are allies of russia; quite frankly they aren't our friends, though Yugo was nonaligned during the cold war at least.
So we've got proto-russians on one side and muslims on the other (now of course we're finding out that bosnia was staked out by al-qaeda years ago... just great).
Based on the above, the best course of action post-1991 would, quite frankly, have been to cordon off serbia and bosnia and let the two malevolents - neither friends of ours - have at it.
Nobody is stating the Serbs are great. I myself am albanian, and i despise the KLA. Kosovo has had alleged links to terror groups, narcotics trafficking, Iran has send money and arms to them, and al qaeda fighters have popped up there. The question remains, who to support? An islamic movement with shady undertones to it and groups who have attacked the US recently? or Serbian christians with limited ties to Russia? I myself would side with the team that is against islamic terror right now. Bosnia itself is a great example. Here you have a country with an islamic base and fighters from arab states. Rumors have it that Bin laden recieved a bosnian passport because of his support there... years later... Madrid train bombers had lived/trained/been supported from cells in that country. Now you make the choice between the lesser of 2 evils currently.
In reference to your Bosnia comment. I find it horrendous that Clinton ok'ed private military corps.(MPRI) to help fight Serbs knowing full well that islamic militants were operating in the area.
Serbia-Montenegro is trying to join the EU and NATO and that is HARDLY to Russia's advantage.
You really should educate yourself on the subject matter first before making uninformed statements.
What is your knowledge of Serbian History?
The Serbs probably need protection from Russia, existing smack in the middle of Islamic terrorists and barbarians. I will point out to you that during WWII it was the Serbs who saved a U.S. Army paratrooper regiment from certain slaughter as they jumped right into a Nazi ambush.