Well, Grant Hill's return to action was short-lived, as he experienced pain in the Magic/Pacers game. The Magic are now 19-19, eighth in the East. Hill's numbers have been fairly decent this season, but his durability means that any given night, he could be a non-factor.
Anfernee Hardaway will be out 6-8 weeks after thumb surgery. The Suns are 23-14, third in the West. Penny is no longer the player he used to be, but has had a few decent games this season, and was contributing in his role as third fiddle.
In Toronto, Vince Carter is not quite ready to return.
And of course, the Antonio McDyess/Marcus Camby deal resulted in the Knicks and Nuggets merely trading damaged goods who have yet to make an impact with their new teams. Both are eyeing returns, though their teams are 13-21 and 9-27 respectively, with both having little to no chance of making a run at the playoffs.
I would argue that Orlando has been hurt most by injury, despite being only one of two teams I mentioned to actually be among the top eight in its conference. On paper, the Magic are much better than 19-19, and with Grant Hill being billed as feeling better than he has in two years before the season started, Orlando was set to have a much better season than this. Still, I have to cast my vote for Toronto, since they have so many players injured, and are a dismal 8-28. I didn't realise how low they were in the standings until recently. On a related note, the RealGM Wiretap reports that Wilkens' future with the Raptors is in question after their disappointing season thus far.