Both sides met separately with a mediator yesterday (probably a good idea) and will be in the same room today.

David Stern seeks quick results as NBA sides head to mediation - NBA - SI.com

The NBA and players' association are ready to try mediation, and Commissioner David Stern wants results quickly. Stern said last week during an interview with WFAN radio in New York that without a deal Tuesday, when the sides meet with federal mediator George Cohen, his "gut" was that there wouldn't be NBA basketball on Christmas. Owners are opening two days of board meetings Wednesday, and Stern wants to be able to bring a deal to them. But can a mediator swoop in and smooth out two years of bickering in one day?

No way of knowing, but I suppose it depends on how close or far apart you think the sides really are.  I'm hopeful that they aren't far apart, and it is just down to the split of money and other details.  But we'll see.

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