You are correct, remember, not that many years ago we destroyed their entire navy in about 24 hours. Missles will be a short term problem as they will quickly cease to exist. The trick is to do as little as possible so as to not stir up Nationalist feelings that the Mullahs can use to their advantage. We want to bloody their nose and start a revolution, force them to focus on internal problems and forget Iraq, Israel, etc. IMHO
A large fraction of their oil production infrastructure is vulnerable to naval attack. Cut off their oil revenue and we have them by the short and curlies. Economically, things are pretty lousy in mullahland anyway, and it would take years to rebuild (if we let them). The price of oil on world markets would go way up (25-50% IMO). Iran's oil production is about 10% of the OPEC total btw. The rest of the world could take it, but Iran would be bankrupt.