I removed both my upper and lower guards about 6 months ago and have had no problems. *Could* a rock fly in there and break your belt. Sure. I could also get hit by a flying re-tread, but that hasnt happened either.
On a side note: Deni: How you like the Thunder Mountain?? Local used bike shop has several low-milage ones for $18 - $20K. Been looking at em hard. Good daily ride? Or more bar-hopper??
Thanks for the info guys. Might not be worth it now that I took a second look and you don't really notice a difference with my swingarm bag. If i take the bag off in the future the guards are definitely gonna go though.