If the Lakers make this trade, it would be with a clear eye on the future. The next season or two, it doesn't improve them that much. However Kobe cannot play forever. By what other means could LA acquire a star player to be the face of their franchise for the next generation? Trading Bynum is the only. And Toronto is a perfect trading partner because they are about to lose Bosh for nothing. So they have every incentive to do the S&T.
This would be a major coup for LA if it happens. They would have a star to start building around for when Gasol, Artest, Odom and Kobe are gone.
Unfortunately we do not have a similar option. We did have Ray's expiring contract, but Danny couldn't find the right deal by the deadline. That was our only real chance to add another star player for the foreseeable future. So unless Danny gets super lucky with a late-round draft pick, our team will be built around Rondo, and LA would be built around Bosh. Hmmmmm, which sounds like a brighter future?
Not getting value for Ray this year is going to look like a huge mistake in a year or two when Rondo, Perk and Baby are our nucleus.