In my opinion, between Iran and USA, we shd go with USA. We have seen in the past that we cannot expect any help from an Islamic State, that too a Fundamental one like Iran. We have learnt lesson from B'desh( we gave them freedom on a platter and now they are playing to the tunes of Pakis). We have seen the role of UAE, during the hijacking of IA air craft to Khandahar via Dubai. We have seen the OIC always siding with Pakistan. It is also well known that Iran is clandestinely developing N-bomb with help of Pakistan,( although claiming to develop alternative energy, while sitting on World's third largest oil/Gas reserves) to use the same at the whims and fancy of their irresponsible Govt. Even if we maintain good relation with Iran, there is no guarantee that the unpredictable regime in Iran would respond positively.
Where as India has a lot of interest with USA, in the fields of Engineering research/development, IT sector, collaboration for latest Nuclear Energy Plants, bi-lateral trade, etc. Our IT/BPO sectors are very much dependent on USA. Thus good relation with USA will pay rich dividends.