Well, the C's are old. So that is a strike against them. An injury to Paul, KG, or even Ray could derail the whole season. That said, the Lakers aren't that young either. Kobe's less than a year younger than Paul, Fisher is older than Ray, and Artest and Odom are getting long in the tooth. Furthermore, just because LeBron and Wade aren't old doesn't mean they can't rupture an ACL (see Amar'e Stoudemire and Antonio McDyess). And I bet if someone really did a big statistical study, the C's only have a modestly higher chance of getting hurt than any other team.
And I think the media is underestimating the impact that some of our new acquisitions and bench players can make. Shaq may have been too old to be Robin to LeBron's Batman; however, that doesn't mean he's too old to be the fifth option in our offense. Similarly, Jermaine O'Neal may have disappointed as the #2 guy in Miami; however, he'll make a hell of a backup center. And Nate Robinson and Delonte West may not have what it takes to start in this league, but both are extremely talented options who are only going to be expected to play (at most) 15-20 mpg.