The distribution projections that both of you are debating assume that the NGP proposal is accepted by the non-affiliated unitholders. If it is rejected, there will be far fewer units, no distributions paid to the subordinated units, and no IDR's paid to the GP. In other words, the distributions per unit will be much higher. You will have to wait a few months longer for them to begin, but overall,you will be much better off voting no. My guess is that the majority of unitholders will see it that way and the proposal will fail.
I wish you were right, but I'm guessing the big institutional holders will vote yes, looking for a pop in the unit price based on the deal to improve their performance ratings that quarter. Sure the distribution will be higher if we wait and plow money into debt reduction, but fund managers are scrambling to make their current numbers and will go with the sure thing. Criswell predicts, a landslide. But I'm voting no.