Do you really need the chain gaurd. I have a 97 f3 and this one as you know raps around the back tire. I have seen a few older bikes on this forum that have takin them off but just wanted to make sure cause I think it makes the bike look better

 

Chain guard is probably not really the right name for them these days, only a bit of plastic & would do SFA in stopping a chain if it did happen to snap.
What they really should be called is "Stop chain lube & rain & road junk getting sprayed up your left leg & left side of the bike guard"
Take it off, only two screws & see what happens.

 

I pulled mine of and put this one on. As well as an undertail which can be a tricky find.

http://cgi.ebay.com/ebaymotors/HONDA...Q5fAccessories