Cashing out on SBD now means, if one wants to buy in later, it will most likely be at a higher rate.

And yes SBD is elevated, but so is the price of STEEM. While we are looking at roughly a 1 for 1 swap now, down the road, you might be looking at a 10 SBD for each SP.

No matter how you break it down, the odds are that there is no advantage to having to get in later or to acquire SP at a later date...it will be more difficult/expensive.