The next Karl Malone or the next Joe Smith?
In short, my answer is neither. Griffin reminds me a lot of three players: Karl Malone, Amar'e Stoudemire and Carlos Boozer, all of whom are great players in their own right but none of whom single-handedly elevated their franchise. Of course Malone had a Hall of Fame career and helped his team to many playoff wins but not without John Stockton. Stoudemire is a beast on the block and will have many more chances to win it all but he's not alone (Steve Nash, Shaq, JRich and former Sun Shawn Marion). Carlos Boozer is a highly skilled forward but again not a player who can carry a team on his own.
So Griffin should be an All Star for years to come, enjoy a highly successful NBA career but he's not a game changer. Power forwards rarely are. Championships are won by dominant centers and superstar guards. Griffin will not be a bust like Joe Smith but he won't be hanging any championship banners any time soon either.
If given the choice I'd take last years number 1, Derrick Rose or next years (likely) number 1 John Wall over Blake Griffin.