I assume that we would still have the 15th pick which would be a pretty nice asset. If we do have a season, and I pray we do, I think we would have a better record and also draft later. The 2012 draft will be much stronger by all indications so we could get a really good player or trade asset to use. Plus we would still have all our room under the cap (whatever that will be) to get some FAs. And the FA list will be even longer because you'll be adding this years crop to next years.
The Cavs could REALLY benefit if they luck out and get the #1 pick again. Teams like the Celts and Spurs would be hurt the most because they get another year older without even getting another title shot.