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Hey there 69veedub,
The bead serves as a gasket between the main body and the fenders.
IMO if you remove the bead and the fenders and body are allowed to rub against each other the end result could be rust. I know you may think it sounds crazy, but if you end up with a loose fender bolt the fender and body will grind together right thru the paint. Besides, I like the way it looks. I don't care for the bead when folks paint over it though.
Cheers
Chris
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