The open swingarm does look cool. I replaced both of my huggers with small carbon fiber inner fenders from Ghezzi-Brian (which allow a full view of the swingarm. I wouldn't run a totally open wheel, because I don't want to coat the shock with grit and grime.

The GB fender, while smaller than the plastic hugger, protects the shock more. The OEM hugger fits above the lower shock bolt and funnels the road spray up into it. The GB unit is not perfect, and takes a little more work to fit than other options, but once it's in you don't have to remove it to get the wheel out. (the belly pan is also from GB)
