That sounds like a pretty effective way of eliminating the whole (slightly obtrusive) rear setup. But if you're just looking to eliminate the fender itself, then you could do what I did and make a license plate bracket that bolts on to those 4 fender bolts (with a few cheap parts and some spray paint from your local OSH or Home Depot). Here's some pics...
Oh, and FYI the illumination from the brakelight lights up the plate somewhat decently...though I'm still contemplating getting a license plate LED light.
Hope this helps...
