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Cautiously Pessimistic 

An increasingly relevant wordplay on the cliché "cautiously optimistic". As the world continues in free fall, its much more realistic to expect negative outcomes. Therefore, its much more pragmatic to maintain a cautiously pessimistic demeanor, rather than a cautiously optimistic one.
My cat is always cautiously pessimistic when inspecting anything new that I bring into the house.
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Cautiously Optimistic 

Patrick coined the phrase cautiously optimistic while dreaming of winning the lotto

cautiously horny 

When you see a crazy-hot chick you want to bang, but are suddenly unsure if it's a chick
I saw this hot blonde chick with a tight little ass from behind, and wanted to take her to bone town, but then I saw she had some meaty calves and wasn't sure if it was a chick or a dude. Not wanting to give up too easily, I had to verify it was a chick. I was cautiously horny.

cautiously optimistic 

A euphemistic (yet silly) way of saying "worried". Most often said by those on national news networks.
Joe Boorman was cautiously optimistic on whether his wallet would be found.

Cautiously Optimistic 

Promising but I wouldn’t bet on it.
The Cleveland Browns look good this off-season and it should be their year, but they’re the Browns so I’m cautiously optimistic.

cautious carol 

One who,in a videogame or real life, tends to move around and do nothing to help anyone... A person cautious about everything they do and is a better distraction than anything. This is usually caused by a lack of skill or just being a really big pussy.
"Damn it, Hes being a cautious carol again,hes not doing shit except hiding."

*friend* " Its better than the guy on my team giving the other team kills, hes a negative nathan"
cautious carol by Mrredandblack August 19, 2009

curiously useless 

someome or thing that is absolutely useless, but is so in a manner that creates wonder as to why he/she/it continues to be in existence.
My boss is curiously useless. He fanatically creates an abundant amount of work for everyone while at the same time manages to get nothing done.