If you are only going to have a small position in MLP's, I think EPD gives you exposure to a diversified portion of the MLP space in a single entity. EPD is a well run company with a low cost of capital, a lot of internal growth opportunities and a great track record of distribution increases. It is also the only one of the big, diversified MLP's that has its IDR's capped at 25%, so as distributed cash flow increases, the limited partners share 75% of the increase and the GP gets 25%.
If your interest is not really diversification but exposure to slightly higher yields, there are some excellent choices out there, such as MWE, NGLS and RGNC. But, as ARB mentioned above, the reason that these partnerships have higher yields is because the market views them as having some combination of higher risk and lower distribution growth prospects than EPD.