It's not a surefire title contender, but it's definitely a team that would have the potential to be very good for a few seasons. You need a purer shooter at the 2-guard spot; ideally, AB would be the bench sparkplug.
If you've got Asik, you've probably got Jeremy Lin so you've got a little bench offense. KO would likely be around - or if you want to blaspheme, he might be a guy you could use in a trade for a 2-guard. Crash Wallace as the 8th man is about right; you could do worse. The bench wouldn't be too bad. I'm assuming Bass is gone, but a re-signed Hump would be a nice depth big man.
So, pretty good starting lineup. Pretty good bench. Pretty good balance, I think, with the exception of being maybe one shooter short. But, that's something they should be able to rectify.
And, the key players are all still in their 20s; they should have a couple seasons to build chemistry, make tweaks, etc.