I spoke to an NBA agent about the possibility of a lockout and he said it's almost a certainty; however, it's hard to predict how long it will go on for.
Like he said, players don't start missing pay checks until November, and owners will have felt the pain of a drop in season ticket holders by then, too. That's when the sides will really start seeing eye to eye.
As a fan, I'd hate to see a lockout go on for the whole season. Sure, watching a bad team sucks... but it's better than not having anyone to watch. And sure we may benefit from no games played, but most likely we won't. I'd rather see what the team can do and go into the offseason with a plan than add on players to a team that hasn't played any games together.