Obviously getting something rather than nothing is preferable but if the lakers do a S&T I think they come off looking really bad. Not only do they lose a major free agent but they also flip on their earlier refusal to do a sign and trade. I can't help but believe that stance was just laker arrogance refusing to believe any free agent would dare walk away.
It came across to me as a standard negotiating tactic. If the Lakers let it be known they are amenable to a S&T, then teams without cap space start bidding for Dwight. That just makes it harder for the Lakers to retain him.
They'd come off looking arrogant if they stick to their stance even if a deal would be beneficial compared to letting Howard walk for nothing. Dan Gilbert said he would never S&T Lebron James, but the Cavs came off their high horse and got back some draft picks because, at the end of the day, they weren't going to be that stupid.