I guess... but it would have to be one heck of a levee system. Agree on restoring the wetlands but they won't stop a cat 5 storm surge.
As far as I know "old New Orleans" (the part everyone wants to visit) is already at or above sea level; it's the newer parts where everyone LIVES that were built on the less desireable land below sea level.
I'm talking about the parts which have to be rebuilt anyways; might as well rebuild above sea level. The French Quarter wouldn't be touched...