Would it be foolish to sleep on the Lakers given their recent performance, or...?

I think it would be unwise to either write the Lakers into the Finals or write them off as a possibility. That said, they clearly are an underachieving team right now. Spurs have nine games on the Lakers right now (ten in the loss column). Clearly they didn't expect that. I doubt even the Spurs expected to have that big a lead on the Lakers by All Star break. At this point in the season, you are what your record is. LA has only the sixth best record in the NBA right now. Unless they can turn it around from now until the end of the season, they very well could be home watching the Finals on TV.