As much as I'd love to see a disappointed Crosby or Malkin, or either of them plastered on the ice from a crushing hit at any given moment, I wouldn't count Pittsburgh out yet. People did this a few seasons back, then they got healthy for the playoffs, and look where they ended up..
Haha! I grew up in Pittsburgh and still live there now. I've followed and loved the Penguins since 1984 (Lemieux's first year) so I am about as optimistic as they come; however, if Crosby does not come back from his concussion in time for the playoffs, I think Pittsburgh will have a tough time winning even a single round.
I don't envy the Pens management with the trade deadline coming. If Crosby is coming back, then the team has a shot at making a good run. They could make some trade to offset the loss of Malkin (as long as they don't give away too much future talent). If Crosby isn't coming back, I wouldn't make any significant moves. I'd write this year off - I'm not saying to give up and not try, but don't try to pull off a Hossa-like trade from a few years ago - get healthy, and make a possible run next year. The problem is no one, including Sid, knows if Crosby will be back this year and be effective.