According to an ESPN analyst, if there IS a lockout, everything but the NFL Draft would halt in terms of in-league goings on, and even THAT would be impacted mightily, as teams wouldn't be able to trade palyers for picks, just picks for picks, and not even sign those draftees...
And that's not even touching on the PR DISASTER this could become (or, depending on your point of view, already is.)
On another note, though, this could always turn into a golden opportunity for the NHL and the MLB postseason to shine if the NFL DID lockout and miss games...though obviously the Phoenix Coyotes sale is ALSO messy (come on, Bettman, give it up, man! LET THE JETS LIVE AGAIN! 8-figure losses EVERY YEAR on the Coyotes part, empty arena, and TSN is rich and ready to return them home...it's OVER!)