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For example, if I were in the lowest tax bracket and had managed to accumulate $200k in my 401k (over a period of years), and then wanted to roll it to a Roth upon leaving employment, wouldn't that count as $200k of income, and put me into a much higher tax bracket for that money and possibly any salary for that year?

Indeed it would. However you are not obligated to convert the whole thing at once. Only convert as much as you have outside funds to pay the taxes for, and that won't bump you out of your current bracket.
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