Here's my old bike with factory "mudguards". It's an Asian machine from the 70's, an old Bridgestone, made in Tokyo, with an admittedly heavy and unusually lugged frame. I think it was designed as a form of primary transportation for some countries.
I modified it with some about the same vintage, but upgraded aluminum Japanese components. It's slow, but it's the kind of bike that you can ride all day. I enjoy riding it, and it attracts a lot of attention.
