Scottie Pippen may be a great defender and unselfish ballhandler and distributor, but he's one of the biggest chokers on that Bulls team, playing alongside one of the best clutch players in NBA history. He really can't shoot, and most of his shot conversions are layups, dunks or short shot attempts. He's a career 70.4% shooter. If teams were allowed to play zone during that time, his half-court offensive efficiency would be even worse-- with him shooting around 42-43% FG/season very likely.
I remember when Penny Hardaway was in his second year, I rated him higher than Pippen. And during that same time, Grant Hill I also considered a much better player than Pip.
Pippen may have led his team to 55 wins the year after Jordan's first retirement, but i chalk that up as them overachieving. The 2006 Suns also made it to the WCF without Amare, and this year's Blazers team won 50 games despite injuries from Roy, Oden, Pryzbilla, Batum, Fernandez. One thing you'll notice is that that 1994 Bulls team near the end was beginning to fall apart under Pippen's leadership. In 1995, they started so poorly they almost missed the playoffs, with the season saved by Michael's comeback.
So back to Lebron James. Yes, be insulted. You're the biggest star in the NBA and 2-time MVP, and they compare you to Pippen? Dwayne Wade is no Michael, but Wade > Pippen. IMHO.
ADD: At the end of the 1994 Bulls season, everybody wanted out of that team. Including Pippen.
2nd ADD: The rehabilitation of Scottie Pippen continues.
3rd ADD: Do you recall any Pippen game-winning shot moments?