The homemade jobs are cool and everything but they are better for protecting the paint than the frame. The Kashimax jobbies are great because the have a metal core that will keep the frame from getting dinged in a hard fall/crash. Homemades won't always do that. Also, you can peel the Kmax off or move it if you change handlebars often. I love mine.
And yes, that is a beautiful bike.