Prediction: The new housing codes are going to require that any new houses be built above sea level.
Perhaps, after all Hong Kong's airport is built on "man made" earth. (although it is sinking 1-2 ft a year.) something is going to be done to try and prevent future occurrences that Katrina has shown to be a possibility.
If it is to be a requirement to build above sea level or not, New Orleans will not be moved. Come the 28th of February, 2006, Martigra will maintain it's consistent annual showing IMO and whether or not New Orleans is above sea level or not, it will exist in (at least) semi-normality by the end of February.