I think there is an element of truth to that. The French are very contrary, but like to show they still have influence.
(The comment on Bush was interesting, but the thing about Bush's government is that it provides a focus for French distain of America, rather than being the underlying cause.)
I'd bet France will join l'Anglophones in war against Iraq, partly to show its might and influence in world affairs. Already, Chirac has dispatched an aircraft carrier to the region.