eeesh, thats a can of worms. windage is definitely a problem. but it is even without a fairing. id say the advantage is minimizing frontal area and disturbing airflow off the rear in a specific way. really only useful at speed. id say most guys here, at least for the track dont use a fairing. but i could be wrong. but alot of guys here dont use them cuz they run "short tracks" mostly. there is definitely some advantage to having a fairing on something that will do close to 100 mph in first gear though. (even though thats illegal, right?) then again modern bikes have so much shit to hide under all that plastic. so its kinda 2 fold. for racing, at least vintage bikes, it has as much to do with economics and usefulness, as anything else. something thats going to get crashed alot, or beat up, isnt worth the trouble. especially if its not going to be utilized like at a place like louden where you dont have alot long drafting or where headwinds are a big issue. but then roper has one, turk has one, jb runs one on his "50". but again that is like saying thats why they are so fast. when its not really the case. for the street on a vintage bike, it would be more about looks than anything else id think. and fairings are cool looking.
jc
aaron, send my wheel.