Classiest fenders currently produced have to be the aluminum models from Honjo (Tokyo, Japan). I installed a set on a 1971 Paramount P-15 (touring model) and they look awesome. The one source I know of in the US is the small bike shop of a Japanese-American framebuilder in the SF bay area. These can be ordered online and are shipped quickly. However, plan to be a bit handy with a drill, and mainly just patient and careful when measuring and fitting these since they are not pre-drilled and thus are not so "one-size-fits-anything...sort of" like most of the plastic stuff you'll find.

Here's a link which happens to have beautiful photos of the fenders and hardware, and I believe even some photos of the tiny shop in Japan where they are actully manufactured: http://www.jitensha.com/eng/fndrs_e.html

All of Honjo's products are stunning. Fenders can be ordered in various sizes and in either a smooth polished finish or with a polished "Hammered" finish. This looks a bit like fish scales and was very popular on those famous custom built French touring bikes of the 1950s-70s. In fact, the Honjo fenders appear to be direct copies of some vintage French alloy fenders by LeFol which I've seen. Honjos are commonly seen in Japan fitted on those multi-thousand dollar custom Japanese "modern-classic" style bikes, such as "Toei".

Price for a complete set of any of their fenders (with hardware) is roughly around $100. The parts are all sold "a la carte" - which I think is nice, because you can then also retro-fit any existing vintage fenders you may have with some of their flawless new brass, stainless & chrome hardware and 5mm round aluminum stays. Oh, and I happened to weigh a complete set of Honjo fenders with hardware... it turned out to be actually lighter than a comparably sized set of the SKS/ESGE lightweight plastic road fenders (Rivendell likes those) which they replaced... and they look stunning!

One word of caution. When fitting ANY fenders on an old bike, be sure there will be ample clearance above the tire, between the brake caliper arms, between the stays, below the brake bridge (and brake calipers) and also at the chainstay bridge. The latter is especially important since your rear wheel will have to slide forward in those (typically long) horizontal dropouts to be removed to repair punctures. Metal fenders really will NOT rattle around noisily (a common complaint)... that is, "IF" they are properly and carefully fitted. And they'll require just an occasional bit of metal polish (just like those fancy alloy wheels on your car) to keep looking pretty, forever.