I'm not up to speed on this, but I thought I read (relatively recently - a year or so) that has been dis-proven
Edit: This is what I heard. http://host.madison.com/news/local/ask/dr-paster/dr-zorba-paster-niacin-and-cholesterol/article_f8254bd8-7387-5da3-83fb-d1ec80789e56.html
Long acting niacin is not niacin but niacin hexoniconate. The data is one million percent against his claim, niacin has many many benefits for CVD amongst being the best HDL increaser(independent risk factor and variable in Chol ratios), lowering LDL, anti-thrombosis, anti-inflammatory effects etc.
His comparison of side effects is equally laughable. Statins have some pretty serious side effects, he even lists death as a side effect WTF. An essential nutrients side effect is death when used within reasonable ranges? does that sound logical? what about the fact that it's water soluble and pretty ubiquitous?
Statins are good drugs, Rhabdo and liver damage are pretty serious sides that actually occur with normal therapeutic dosages.
Niacin's limiting factor and why I would rather a statin is the flush and paresthenia. I also note increased histamine from niacin as it likely destabilizes mast cells and would exacerbate that in sensitive individuals.
He also cherry picked a claim that long acting was not effective, never mind the studies that show this over and over(some dispute him). We know long acting niacin is liver toxic and less effective then niacin. Why he choose to switch between the two, namely when it suited his purpose it's almost like he has an agenda.