I think Buckeye (
Welcome to Buckeye Partners, L.P. ) is a good MLP buy right now. It's in the low 40s or so. It's been as high as 71. If I were looking to invest cash not held in a retirement account, I'd buy that right now (AAPL is being bought in a SEP IRA).
The current dividend at the current price is right under 9%.
The one (and only) think that concerns me about MLPs is - our own government. In its never ending quest to raise taxes, the current tax treatment of MLPs and how they pay dividends, etc. seems to me to be a possible target.
If the tax treatment of MLPs is changed, or that thought is even floated, the share price will take a hit.
I wasn't so worried about it in 2006, but (1) at that time MLPs were more "under the radar" and (2) it seems our political and economic philosophy has, umm "shifted" somewhat since then.