I've been wondering about this whole consolidator/eliminator thing ever since some squid offered to take a Dremel tool to my SV's rear fender a few years ago. What's the appeal? And I mean that in the nicest possible way.
Maybe I'm just a dork, but I like having a rear fender. Like BudBandit implied, I can totally understanding modding your bike to get better performance out of it, but why spend precious $$$ on removing stuff? All you get out of it is a nice mud-stripe up your backside on wet days. And a ticket, apparently.
Sometimes I wonder if someone started passing a rumor around that consolidating your rear lights improves your bike's aerodynamic coefficient.