Sitrep:
Feet: Sealskins, longs, overshoes. Inside of sealskinz soaked. Feet wet.
Hands: Night Vision Waterproof gloves. Hands soaked. How do my palms get wet? It's not like they face the rain or anything!
Body: Putting Fabsil on my jacket appears to have been a complete waste of time.
So I have to say that in my experience, full mudguards make sod all difference when compared to raceblades.
Still it was more fun than getting a train.
Only one numpty, the d*ck on a bike at the Elmers End Road/Croydon Road junction who just kept inching forwards on a red light when I had green until eventually I had to swerve around him: Stop being a d*ck. But then I doubt you will.