fenders look ugly too. can the fenders be fixed so that they don't look like you just changed the tire from big tires to small tires. i think you can cut the fenders and the fender wires shorter in size.
The fenders are ugly, but what they lack in charm they more than make up in remove-ability and transfer-ability to my other 700-c-wheeled bikes. The raceblades would be a bit of a challenge to modify for 406 wheels, though it could be done. (you'd have to cut and re-attach the wires, as they aren't adjustable like more permanant fenders are, and you'd have to really bend the heck out of the plastic to get the snmaller radius.)
I'd rather just use them as-is when I need them and take them off when I don't (on any of my many bikes).