I think Michael Jackson's babysitting career is over. Now, to the other Jackson:
Phil Jackson will make the Lakers a better a team. Kobe had his chance having an isolation offense with everything going through him, and it didn't work. He should now understand that Jackson's triangle offense helps him and the team. Kobe won't fight it as much. The triangle offense will also make Lamar Odom a much better player. Improving just these two guys will make the Lakers a playoff team.
They're not a championship team, but they're not as far away from a championship as people might think. Jackson is not building from scratch. Most coaches would kill to have the chance to build a team around someone as talented as Kobe Bryant. The Lakers just need to find better role players and hope Odom turns into a star (if he doesn't, they'll need to sign one.)
The Kobe/Jackson feud will be interesting, but they both understand that they need each other to be successful, so I don't believe either will let animosity affect their performances.