The key parts of this trade are Gasol, Bledsoe, Milsap, and Jefferson. The other players are to make salary caps fit and to address other team/player needs. Obviously this trade was better before Gasol went down but if he comes back at the level he played at in the Olympics we're in good shape. I would probably also include the Clippers first round pick this year and maybe the Lakers pick next year.
We get an all-NBA center to anchor our team for the next two years while giving our young bigs more time to play. We also get a PG we can develop for long-term use, giving us a possible lineup of Bledsoe, Burks, Hayward, Favors, and Kanter. We also get rid of Bell who wants to play on the Lakers anyways.
Lakers get an energy/hustle player in Milsap who can hit the 3 and won't get in Howard's way. They also get two defensive minded players in Bell and Hill (and Hill doesn't have to move his family) and a wild-card in Odom.
Clippers get a center they can count on at the end of games. Maybe we also send them one of Tinsley or Watson. They may actually want a draft pick or a bench player (Kevin Murphy?) to make this work.