Then you've missed the point entirely. I don't want a return to the Cold War, I want an end to the unipolar world. And the reason is that I don't trust the US to not mess things up. Which under Bush it arguably has already done.
The upside is that the world has already become somewhat multipolar, only that some people haven't figured it out yet. Hence Washington's current embarrasment with Georgia. Consider it a valuable lesson.
I can understand people saying (even if I might disagree); "if only the EU could act as a counter balance to the US" but how can it be a good thing that brutal regimes like China and Russia are becoming more powerful?
Will their rise help prevent wars? Not likely - as can be seen with Georgia, though it might make a big war more likely.
Will their rise help human rights? No.
Will their rise help the environment? No.
I guess what I am trying to say is...
My ranking of the best to worst possible worlds:
1) Many peaceful, prosperous, democratic states determine the worlds future (and sing kumbayah together in perfect harmony)
2) The is a single hegemon and it is largely benign (i.e. it will trade peacefully, generally respect smaller states etc) (this describes the USA/our world if you hadn't guessed)
3) Confrontational bipolar world (i.e. Cold War), actual proxy wars, risk of major war. Risk of the wrong side winning which could lead to:
4) Single oppressive hegemon (totalitarian/dictatorship/communist/whatever). Don't feel it should be neccessary to go into detail as to why this would be the worst...