If all values are unique then you should reverse the dict first to get an efficient solution:
>>> subs = {
... "Houston": "HOU",
... "L.A. Clippers": "LAC",
...
... }
>>> rev_subs = { v:k for k,v in subs.iteritems()}
>>> [rev_subs.get(item,item) for item in my_lst]
['L.A. Clippers', 'Houston', '03/03 06:11 PM', '2.13', '1.80', '03/03 03:42 PM']
If you're only trying to updated selected indexes, then try:
indexes = [0, 1]
for ind in indexes:
val = my_lst[ind]
my_lst[ind] = rev_subs.get(val, val)
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