I had the Powerbronze hugger and pyramid mudguard extender. Had the dealer fit them before I picked up my brand new 1000GT K8. I run my bike in all weathers like many of you and I was soon dismayed to see that the hugger dumps huge quantities of muck, grit, salt water and anything else you can think of directly on your chain. It actually power blasts the chain with this muck especially when you are riding on the motorways. This is because you have to remove the original chain guard and there isn't really a chain guard as such on the hugger. It merely extends over the top of the chain so all the muck and water washes down inside the hugger directly onto the chain. This vague attempt at protecting the chain actually doesn't. it just stops little children putting their fingers in the chain as you spin the wheel around. All the muck buggers the chain really quickly as I found even if you keep cleaning and lubing regularly. So mines off (the hugger) and has been for a few months now. The chain stays in much better condition I have found with just the standard chain guard. The shock is fine too. As for the total amount of crap on the rest of the rear of the bike, there isn't much difference actually so I don't miss the hugger.
Sorry if I sound as though I'm raining on someones parade, not trying to do that but many of us have found the same thing with these huggers, especially if you do a lot of miles in the winter. They are useless on the strom!