This trade works
Cavs get - Bynum, Richardson
Lakers get - Howard, Davis
Magic get - Varejao, McRoberts, Eyenga, Goudelock
Obviously Orlando would also get a ton of picks from the Cavs (and maybe some second rounders from LA, whichever ones aren't going to Phoenix as they picked up quite a few recently).
Not really sure how that package is better than what Houston would offer nor better than taking a risk on Bynum, but to each his own.