Come 2012, I would probably vote for a reset. For tax reasons if nothing else.
In terms of converting and having a gazillion BBIs (assuming that was likely), then I would want to make sure I was going to be getting a reliable dividend- which wouldn't be likely given that I just got a gazillion BBIs for my Beppas. Trying to sell them would surely be a disaster.
That's how I see it playing out, how about everyone else.