I'm working on some fenders for something else & took a break to see what they'd look like on one of ours. I dig it.
Keep in mind that I'm modifying these fenders for something else so they don't fit quite right but I think with some more specific work for this application, swingarm stretched just a tad, old Shovel style covered rear shocks it would be pretty slick.
hate it.....but like the old pan style covered rear shox you speak of. they would look good on a nighty for sure but a tiny fender would have to be in order imo.