I am planning a 7-day trip to Beirut (with day trip to Sidon, Faraya, Jeita Grotto and Byblos) on the 30th of January 2011. Can anyone please advise if it is safe to travel to Lebanon right now as someone has mentioned tensions are extremely high in Lebanon at the moment. Whereas, all the major countries are giving out travel warning to Lebanon as well.
Should I postponed my trip?

The perennial question ;-)
Check out this thread - nothing much has changed since then. Everyone expected the STL to report before the end of the year, but it's now considered likely to report in January or February.
There's absolutely no objective, black and white, yes/no answer to your question: you need to think about how much risk you're happy travelling with.

doopy aka the Op - what nationality are you and what does YOUR government say about travel in Lebanon? I am Australian and my government says to reconsider my need to travel to Lebanon. See http://www.smartraveller.gov.au/zw-cgi/view/Advice/Lebanon. This means that IF I was injured in a terrorist event I would NOT be covered by my travel insurance. Double check whatever travel insurance you can get to cover you while travelling Lebanon. IF you are that nervous and need to ask this sort of question on this forum I suggest you stay at home. I have travelled across the Middle East with similar warnings from the Australian Govenrment from time to time however I am very much aware of my personal safety and I stay aware of security risks in the local area to try and ensure that I am not WPAWT (in the Wrong Place At the Wrong Time).