Tim, You are the man against debt and now you are saying that at retirement is the right time to cash in you equity by using debt. I was talking about getting the equity for free not paying interest to use your equity.
You can always take the equity out of your house in the form of debt but I think that is a little different than actually cashing in your equity to retire. At retirement most people's income is going to go down. If you use a home equity loan then you are actually going to be adding a payment to your already smaller income(assuming you had the house paid for already).