Historically how many drafts even have 4 HOFers. The only fairly recent draft I can think of that fits that bill is 2003 where James, Anthony, Wade, and Bosh were all top 5 picks. West, Korver, Josh Howard, Kaman, and Mo Williams also all made all star teams. So even in that draft would you trade James for Bosh and Korver? Of course not. Now if you had 2 and 4 for 1, that is something to think about I mean Anthony and Bosh or Wade might be worth considering, though I think ultimately most people would still rather have James than Anthony and Bosh or Wade.
Your under the assumption that the #1 pick in this draft is a Lebron level talent. Since Lebron will likely be considered a top 3 player by the time he is done, that is quite an assumption.
As I mentioned earlier, I would be interested in a trade especially if we were able to use the #4 plus players for an all-star upgrade, while keeping the #8 (Giles or somebody of that caliber). That way we get still get a top prospect while getting even better now.
How about 2009? Curry, Harden, Griffin, DeRozan, Holiday, Teague, Lawson, Gibson. I mean is Curry/Harden/Griffin worth DeRozan and Gibson
Or maybe 2010. Cousins, George, Wall, Favors, Monroe, Bledsoe, Bradley, Patterson. Is Cousins/George/Wall worth Favors and Patterson.
You can pick basically any draft, even ones with a lot of quality players and the difference between 1 vs. 4 and 8 is immense. Even drafts thought to be very deep at the top, it is still immense. It is a bit different if it is 1 vs. 2 and 4. Then it is something to think about, but 1 vs. 4 and 8 should never be a discussion.
Now obviously you have to get the draft pick right as some of those great players went in positions where you could draft them at 4, but you can't think you are going to draft wrong in that scenario.