If Ings gets signed, you would imagine Lambert, Borini are definitely off.
And if Balotelli doesn't buck his ideas up, even with Sturridge back, he'll be off too leaving a hole for an experienced quality second striker. That's what the hope would be anyway. Can't have another season without Sturridge with no quality backup in place. At the moment, I don't think Liverpool can afford a replacement to Balotelli due to his wages taking up a lot. If he was to go, Lacazette has to be targetted from what I've heard. Sturridge, Lacazette, Origi, Ings is a lot better than Sturridge, Balotelli, Lambert and Borini.
I guess the economics of the deal is that you could quite easily make 10-15m off this player in a few years time to a Sunderland-esque club. It's hardly much of a risk for a young player who was Championship player of the season. Paying the touted £3m isn't all too bad when you consider the re-sell value and the risk factor. It's not £35m like Andy Carroll and £20m on Downing.
However, it does reek of another failure based on previous dealings. I've only watched Ings once so can't say I know enough about him though to be honest.