I believe they make some chrome decorative strips that cover the holes when you take the rack off. I can't remember if I saw them on Kury, J&P or which, but I do remember seeing them for that exact purpose.
If the 08 rack is like the 05, then it doesn't look bad at all and can be used for a tour pack if you want later. Cruzn has the 09, and due to the frame and wheel differences, his is gonna be different than an 08 for sure, yours might be like mine on the 05, which is fine. P.s. honestbob is right, the directions will have you confused to no end. Still not really sure how mine went on, but somehow it did.