the chainguards on both sides are there to keep the chain from falling off the 'ring, not to keep your precious pants from getting caught/torn/greasy. cyclocrossers use them because they often will use only one chainring in the front and gears in the back. a little extra insurance for when the road gets a little bumpy.

T.A. Specialties has been around longer than your mom.

edit the second: $299 for that crankset is ridiculous.