Do you mean wrap the tube around the rack to block rain from spraying up off the tire? I'm having a hard time visualizing what you mean here. In any event, while the majority of rain will be flung directly up off the tire with it's spin, lesser amounts of rain water get sprayed out in all directions as well. Most of the time you'll wait out a serious rainstorm, but you'll still be picking up water riding on the wet road after the rain stops. Without fenders it will spray all over your panniers, your shoes and ankles, and get literally everywhere on your bike somehow. I think fenders are essential, and toe rub is something you just learn to deal with after riding the bike for a while. Planet Bike Cascadia fenders come in 700cx65mm size which I use on my 2.1" tires.

I met a girl in Baja on a 920. She was not able to say she liked it, but also couldn't really put her finger on why she didn't like it. Her words were something along the lines of, "I guess it's alright." She did mention the gearing was too high for her. She was riding with two large rear panniers and a handlebar bag, IIRC.