Originally Posted by Cave
The single eyelets at the back are a bit of an issue. I suggest using cable ties for your mudguards, and having the most secure pannier attachment possible. Watch the rack bolts, you don't want these getting loose. Some racks have attachment points for mudguards (although the included Blackburn rear rack dosen't).
My goodness, why would you use cable ties? Just put both racks and fenders on the same eyelets. The rack goes on first, right against the eyelet. Fenders go on the outside, up against the rack legs. There is absolutely nothing wrong or unsafe about this arrangement. Fenders don't put any load on the bike, after all, and tightening down the bolts means that the load is a carried by your frame - not the hardware. I've carried full touring loads a couple of different times using this kind of arrangement on an older touring bike. It works just fine. Having two sets of eyelets on the dropouts is definitely a better arrangement, but it's more a matter of convenience than anything else. Single eyelets are no problem.