If it takes a lost season or two (please God no) to get a long-term sustainable economic model in place it'll be worth it. Players and owners both have to give concessions on this.
The owners have to reconcile their internal differences so big market teams and small market teams all benefit. The players will have to give a chunk of their salaries back (again) to make it work. They felt they got hosed last time, but they ended up doing all right in the end.
As much as I'm pro-player in this iteration of the lockout, in the long run the economic model has to benefit everyone. Otherwise, we're going to see this every time the CBA expires.