[quote="Regulus"]Katrina was a cat 5, this is a cat 1. Katrina was a deadly hurricane because the levee system protecting New Orleans from flooding failed. The levees in use now are newer, and, if the Army Corps of Engineers aren't idiots, should be able to withstand hurricane conditions this time.[/quote]
The problem with Isaac is that it's now a slow mover. So slow that it's begun to crawl and the center's over water again right now. So you can expect that New Orleans is going to be lashed for an extended period of time. Sustained winds are 80 mph. But from what I've been seeing, the gusts have been 100+ near the northern eyewall and in the stronger rain bands around there. Duration will be key here. And I wouldn't trust that Isaac won't be anything like Katrina at all. I'm not saying the levees will break. But you can't be 100% sure nothing will happen to them with this storm.
Another problem in question will be is if the area gets into the northeast quadrant of the eyewall. This is usually the most intense side of the hurricane with rain and wind going on constantly, and the east wind flow that can really push the storm surge ashore.
Also, FYI Katrina came into Louisiana as a category 3 hurricane:

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