The no-stars, just-talent approach has failed in Indiana, particularly with Danny Granger being sidelined for the next three months with a knee injury.
Pendergraph and Augustin, both 25, would largely be throw-ins to make the salaries work under NBA trade guidelines, though Augustin is a competent backup point guard.
Because this proposed trade is lopsided, it would entail the Lakers waiving a player. About half the roster would make good candidates.
4) Gasol for Minnesota small forward Andrei Kirilenko ($9.7 million) and power forward Derrick Williams ($4.8 million).
Williams, 21, is languishing in Minneapolis but would give the Lakers the kind of dynamic athleticism that their roster sorely lacks.
The Timberwolves would also probably be willing to part with valuable veteran Kirilenko, 31, to obtain Gasol, who could form a Big Three alongside Kevin Love and Spanish countryman Ricky Rubio.
The upside for the Lakers would be improved depth with a pair of players who aren't plodders.
5) Gasol for Toronto point guard Jose Calderon ($10.5 million), power forward Amir Johnson ($6 million) and a first-round draft pick.
Andrea Bargnani's torn ligaments in his elbow have scuttled any trade involving the power forward, but the Raptors still have a few attractive pieces to dangle for Gasol.
Even as a backup, Calderon, 31, ranks among the league's assist leaders, and he would be an attractive insurance policy should Nash's injury problems continue.
Johnson, 25, has been productive in limited minutes and could push Jordan Hill for the starting job.
And the Lakers certainly could use a draft pick after seemingly sending every one of their selections from now until 2050 to Orlando and Phoenix as part of the trades that brought them Howard and Nash.
That's it for the proposals. The sub-.500 Lakers shouldn't wait until the Feb. 21 trade deadline to make their move.
Now would be nice.