I made the same points before reading your reply.
You are right, selling and re-buying when you have years of accumulated deferrals will guarantee you a smaller position and lower future income. So what if you re-buy 20% cheaper if say 35% of your proceeds went to pay tax. You won't be able to buy as much when you buy back in.
Stupid idea to throw away the biggest tax benefit of owning MLPs, ie the tax deferral.