I think it looks good with the guards

but if you wont use in rain or ever ride through puddles then, or want to fit bigger tyres
It's usually always bloomin wet when I got out so I like them, even today in this heat I still rode through lots of still wet areas up in the hills. Of course you could just let my fit your guards for you, then the bloomin rear one will refuse to stay on anyway so you can still get water and muck all up your back.
I think the folder looks good with them on, might look better with them off though, also taste is very bloomin subjective. I think my own bikes look horrid with a back mudguard on (luckily they refuse to bloomin wear them) front guard is needed though for my rides, gob fulls of "stuff" if not.