The wrap around idea has been talked about quite a bit. Depending on the design it may work. Ian made a good point when he said that if you do hit somthing the plastic bumpers wont damage the body where as if yu hit somthing with the metal gaurd it could possibly bend up into the body and cause more damage.

The plastic bumper ends are cheap to replace if the damage cant be popped out by just removing it.

I would love to have a rear bumper with side protection. Calmini at one time offered it but I dont believe it sold well.