The simple fact that Indiana didn't bother trading Granger away while he was injured - with a degenerative knee condition, mind you - despite George's concurrent ascension should indicate that the Pacers' front office probably isn't big on knee jerk trades. They waited until he returned, proved ineffective, and THEN traded him.
I mean, do people honestly believe Bird would rather keep Hibbert and West and trade George rather than the other way around? It's not as if the Pacers were favorites even before the injury.
If they punt this year, they punt this year. It happens. Injuries suck, but you deal with them wisely. Not by trading away your max star before you even get a chance to see how he recovers to salvage some unlikely title run.