I actually don't mind any of those trades, but frankly would rather have Hibbert than Josh Smith. I mean if Rondo and Bass is good enough for Indy to give up Collison and Hibbert (which I don't think it is), why not just do that. Makes more sense if you ask me, especially since one of the reasons to acquire Smith is to pair him with Rondo, who would no longer be around. You also save O'Neal to be used in other trades by doing that.
If you alter the first trade, then you don't need to make the second trade (which is a poor trade for Boston given Bledsoe isn't better than Collison and is too small to play SG). Third trade is fine.
I'd then try to move O'Neal, Wilcox, Bradley, and Johnson (or the LAC pick) to New Orleans for Okafor and their lottery pick (top 3 protected)
Thus, my team would like this (again I don't think Indy makes the trade hollinger proposed)
PG - Collison, Pargo
SG - Allen, Daniels, Moore
SF - Pierce, Pietrus, Young
PF - Garnett, Okafor
C - Hibbert, Okafor
Probably not a contender, but I'd feel better about its chances and would feel much better going forward with Hibbert down low and the protected lottery pick from New Orleans. The team would also still have a fair amount of cap space to work with.