Thanks Matt for everything you do and working with us sportsmen first hand. I basically agree with the OP, and taking his and Matt's considerations together I think it would be a great idea to draw down when District 10 deems the time is right and then:

Work on the dam
Clean up existing banks/structures
Possibly improve boat trails (there has to be a deep freeze/tree/who knows what lurking in there waiting to eat a lower unit

Also, what is the long term plan regarding silt accumulation in the lake? We're a generation away from wade fishing the whole place.