No, simply because such a system would simply lead to an escalation in delivery technolgy, or simply change the balance of power somewhere else.
Maybe the Russians or Chinese would start work on Orbital mass drivers, where you accelerate a lump of rock to say 10,000 mph and fire it at a city. Any BMD that used kinetic or explosive methods would potentially be inviting wider scale damage because of scattered debris. Or, as many suspect already exist, you could simply use an orbital missile platform, float your missiles dierctly over target and get them launched and down before any AMD shield can react effectively - indeed, knocking out the C&C structure for the BMD system would be a priority in such a scenario.
SDI, BMD, whatever you want to call it, is the latest development in the long standing battle between offensive and defensive weapons, and it's one that ultimately offensive weapons always win in the long term. You have to look at missile defence in the same way.
There has been no point in history where someone has built a defence that cannot be defeated, circumvented or otehrwise rendered useless, from Stone Castles to kevlar body armour, it's ALWAYS easier to build bigger and better bullets.
