A huge coup for the Lakers with that trade, an absolute steal. I wouldn't go so far as predicting a championship because better teams than the current Lakers outfit have come up short but with Gasol they've just become much more formidable. From the Grizzlies' point of view, it's a terrible trade in the immediate future and one that could well haunt them for years to come but if clearing cap space allows them to land a big free agent down the road perhaps it will be worthwhile. For now, they're on the wrong side of a very lopsided deal.
Kenny Smith has written a column
criticising the Bulls and Nets for not being able to get trades done and I'm sure a lot of people would agree, though I don't think it's fair. The Lakers got a star player in exchange for one of the most disappointing first overall picks in league history, an unproven rookie and some draft choices. That's a package that's a lot easier to give up than two good young players who are a big reason for your success in recent times or in the case of the Nets one of the best point guards in the league.
The Lakers themselves knocked back trade proposals last year because Bynum was involved. There's no way they could turn down a deal like this.
EDIT: Just saw
this, which describes a very appealing scenario with the Bulls that they turned down which was definitely a bad move, much as I like Thabo. However, I stand by what I said before as it pertains to last season's trade rumours. If players like Gordon and Deng are involved, a team like the Bulls hesitates and if a player like Jason Kidd is involved, a team like the Nets are definitely going to hesitate and rightfully so. You don't hesitate to give up Kwame Brown, Javaris Crittenton and a couple of picks for Pau Gasol.