Well it usually takes some time to pack it, for me around 45-60 min. Mostly because you use it maybe once a year, so when itīs time to pack the bike you start from scratch everytime. And you need to cover the frametubes with something, I use pipeisolation (sorry, is this the right word in english?) I dont see time as problem, but dont do this in a stressful situation, it so easy to forget some tool or component outside the bag when you close it, at least for me
No problems with mudguards, I put mine around the wheels. Rear rack might take some work to get it in the bag, for me it does. You also have to take right crank of from the bottom bracket, I just need a 8 mm hex wrench for this.
Is it worth the cost and time? I like the idea that I dont have to think about restrictions, bike on flights, except weight. Myself Iīm going to fly to Denver this summer and back from San Francisco. Flying with US Airways and as long as I keep this bag under 24 kg there will be no charge and check-in personal have no idea that its a bike in it so they can charge loads of dollars.
And lastly I can take the bag with me on the bike, just pack it flat in 1 min. Something you cant do with the solid Samsonite S&S suitcase.