Excellent article.
I wanted to expand on your statement that "drafting and especially development were areas that the Kings had historically ignored." I would say not so much ignored...the focus, since inception, was to trade away valuable draft picks for aging stars that had seen better days. This whole foundation was laid by none other than Jack Kent Cooke himself, and his successive GMs dutifully followed him. However short-sighted it was, Cooke's intentions were good: he wanted to have a contending team right away. He felt that this was the only way to get Los Angeles fans behind the hockey team in the fastest way possible.
In retrospect, this methodology failed miserably; we all know that now. Cooke only had to look east to Philadelphia to see how developing young players turned that team into a winner right away, seven seasons into existence a Stanley Cup champion. Yet still he traded away picks for aging stars. The one notable exception where it worked, and worked like a charm, was getting Marcel Dionne out of Detroit (then again, the opportunity presented itself and Dionne wasn't exactly "aging" at 23!).
We also gave up on promising young players, not just draft picks. Billy Smith, Larry Murphy, and Jimmy Carson immediately come to mind (yeah, I know Carson went for Gretzky, but still it was tough to lose him). This short-sightedness in developing a winning hockey team plagued the Kings for the better part of 30 years before Taylor said enough was enough (as you point out in the article).