Do we need a review of the rules of engagement in war?

In the light of the footage from Iraq recently released, should the military hold a review of the rules of engagement? The soldiers noticed the victims carrying objects (cameras), assumed they were guns, and then in their transmissions specifically stated that they were AK-47s when they did not have a picture clear enough to confirm that they were weapons in the first place. Is this premature action, or is it a risk that must be taken in action against terrorists? What do you think of these events?