I'm in the process now and I don't want to screw this up. What did you cut exactly and where? What are the mounting points and does the chain guard portion sit on the outside or the inside of the swingarms original tabs? Pictures woiuld help sooo much, thanks.

Really? Seriously folks, chime in whenever you want.

And a bump

I guess this isn't a popular mod? 

Sorry, I haven't done it myself, so I can't share personal experience. However, there is some info on the wiki (same info on Pablo's page), if you haven't seen it yet:
http://cgi.stanford.edu/~sanjayd/gs500/Upgrades/RearHugger
http://pantablo500.tripod.com/id20.html

Where to buy that rear hugger firstly?

what is the perpose of the rear hugger?

I would want one to keep all the dirt and stuff from the wheels OFF the bike...and plus it also looks better......the tire wants a hug too

I already read that article. It didn't clarify enough to make me want to chop this thing up. It took me a while to find. I had to buy it from the UK. I may sell it.

If your selling the rear hugger,I'd be interested..I wanna install one on my 07 F