Is the UN aa effective body anymore ?

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We all have seen how the US raided Iraq, got hold of Saddam and is now all set to execute him under the laws of of US. But I wonder what for then is United Nations formed for? Is it going to be a mute spectator to the superpowers or is it ever going to stand up and get counted. On most of the occassion the UN general assembly acts like a rubber stamp authority to the wishes and whims of the five members of the security council. It is high time that the council should accomodate nations who have risen to the power status in the last two decades. The current system smacks of bias? What do all of you feel friends.