That poor Trek 1000! Sniff... And by the looks of the bar wrap, that person is riding the heck out that poor bike.

To the OP, from one Fred to another, it's better to gain respect with fenders than to shed them, and your rack, and your large seat bag, and your cut-offs and still get dropped and still no respect.

Was it LeMond who was asked, "How did you do it?" "I ride my bike. Ride my bike. Ride my bike. Ride my bike. Ride my bike. Ride my bike... r..i..d...e... my...bi..ke........."

In defense of the pace group, have you ever rode a line with even one other rider and know the rules, calls and signals? A group at your appropriate level will provide the training with less pressure and danger to learn the etiquette and rules of high-speed group road riding. It's intense and yes, dangerous.

Best of luck.