I think you've got to look at the bigger picture. There's no doubt that Pink Floyd peaked during the period that Gilmour and Waters cooperated and collaborated, but there was Pink Floyd before Gilmour and after Waters. Syd Barrett's influence is often under appreciated, as are the contributions of Mason and Wright. But I would argue that the man who took them to the top was Alan Parsons, whose work on Dark Side of the Moon was truly revolutionary. Gilmour and Waters were wise enough to capture Parson's vision and continue making great music through Wish You Were Here, Animals and The Wall.
I have a friend who argues that there is no Floyd without Gilmore/Waters just as there would be no Steely Dan without Fagen/Becker, but Steely Dan is a two man team surrounded by a vast rotating corp of excellent side men. The quality of Steely Dan's music never lapsed, while Floyd's clearly has as they've attempted to continue with a core that's shrunk and aged.
Are Momentary Lapse of Reason and Division Bell "fully" Pink Floyd albums? Unfortunately, no. They've got a few good tracks, but the collective genius that drove them through the 1970's can't be recaptured.