"Arising and disintegration" refers to both coarse and subtle impermanance. What Nagarjuna was saying was that there is really no real arising and disintegration. Therefore to hold to the idea that phenomena or things are but an unending series of real causes and effects is also not tenable.
My own perspective is that the question of what one experiences as reality depends on one's chosen point of view. Who knows if all that can be experienced is what reality is, or how "enlightenment" is measured sufficiently to know that one knows. What is more interesting to me is the question of how to gain the liberation to shift fluidly within one's experience.
When I choose to experience arising and disintegration, I do. That is the experience of my body and incarnate life. I arise every day- this is how what is essentially a bunch of energy and probability becomes some semblance of my body and brain and action. And I'm continually disintegrating and arising to keep this form going. One day, I just won't be that great at arising any more and my form will entirely disintegrate.
At the same time, also entirely present, is that I can choose to experience a sense of never having arisen and never disintegrating. This is not only a sense of eternity, but a sense of no-time, as there are no events to mark a concept of time. This is a perspective in which everything that we think ever was, simply is and is not, simultaneously. All probabilities exist, and because of this, there is neither reality nor is there no reality. In a way, this is the most expansive self I can be... so expansive that there is no self at all... and yet, there is also not a no-self. The non-arising, non-distintegrating state is not nothing, nor is it something. It is the origin of nothing and something, the limitless potentiality. In this, it is the prime mover that is not moving, but rather being. This is not simply God-as-One-God-as-All, but is inexpressibly paradoxical.
When one wishes to bring this down to the level of the incarnate individual self-hood, words are inadequate to say the least. But, words are currently the predominant language of humanity (and necessary for forums), so one can only try. But personally, I find this integration to be something better conveyed through almost any other medium (as most religions have also noted)- art, movement, music, symbology, ritual, sex, laying on the ground under the stars, listening to the ocean waves... anything retains it and excites it better than words. This is because language is built upon categorical thought, and the integration of the paradox of God Herself and myself (or any individual "self") is non-categorical.
In between these two perspectives are what I would consider infinite possible levels of connection with other beings. Further, in having the expansion and contraction perspective, there is infinite possible senses or identities of oneself. In finding self never was, one also finds that self ever is, and that self is really verb... an action, a process... and not a thing. It is the connections and relationships between that ARE, along with the totality of the web of them. The rest is relatively unimportant and constantly changing.
We humans just think it's the other way 'round. That we "are" and our connections change.
My 2 cents, anyway.