tim,
How deep is your pond? If cost is a consideration, what will your electricity costs be to re-fill each foot of draw down? (The last foot will be the largest and most expensive.)
I believe the theory is, that drawing down the pond a few feet will cause the forage species that hide in shallow water to be forced out into open water. If the ambush structures for your predators are still in sufficient water, then your predators should gorge on the forage.
Another effect is that some terrestrial plants should start growing on your newly exposed pond bottom. When you raise the water level back to normal pool, that vegetation should be flooded and provide short-term new cover for your forage species. Hopefully, they will reproduce rapidly and thrive in that new cover. However, the terrestrial plants will start decaying at some point. When that cover thins, the predators should be able to get at the new, abundant forage.
I would think having a "forage rich" pond would be important to get a benefit from drawing down your water level.
I would think having a pond poor in shallow cover would be important to get a benefit from flooding "new" vegetation when filling the pond back up.
Does either of those conditions match your pond?
Just my 2 cents worth, from a non-expert.
Finally, there is no substitute for experimental data! If your fishing is not great now, perhaps run an experiment on your on pond? Pull down 1-1/2 to 2 feet. Maybe even broadcast some barley? Fill back up after some good vegetation growth.
(Your experiment will NOT be perfect. There will be lots of other variables for your pond during the pull down/refill cycle.)
Good luck!
