I ride an old GT cyclocross bike with cheap 42t Sugino chainring (no ramps or pins) on the inner position with a Spot chainguard on the outer position. I also use a Third-Eye chainwatcher. I'm running a 12-28 Ultegra, 9-speed cassette with Dura Ace short cage derailleur and Dura Ace bar-end shifters.

I've raced cyclocross with this set up for years, and I don't recall ever having thrown the chain.

The gearing is optimized for cyclocross, so it tends to be a tad low for fast commuting, but good for riding in general.

Here's a photo of it in the Cyclocross forum from way back: http://www.bikeforums.net/showthread...=1#post3112098