Yes I had mudguards on as well,Must admit the toe overlap is noticeable, I thought it was just me or because of the mudguards.
Honda cucumber medal made their bikes great value at the time, but not so much when used.I've owned mine since November last year. The mud guards were not fitted at the factory and were a complete pain and are not as good as those from SKS. The rack I got from Planet X fractured despite being very lightly loaded. The mudguard and carrier mounting points are prone to cross threading and are made of the softest metal I have encountered since fixing Japanese motors bikes in the 1970's
That said the bike itself was great value at the time - I dont think its quite such good value now