There are three things that make a bike complete. The first is a good generator light set, which means you have light to see by and to keep you safer any time you want to ride. The second is the ability to carry a modest amount of luggage without difficulty. And the third is a set of mudguards - which makes winter riding so much more pleasant.
There's nothing less fun than riding along in a in light rain or wet roads, getting soaked by the icy cold spray from your own wheels. Make no mistake, if you ride for a long time in a heavy downpour you're still going to get wet, but mudguards drastically cut the amount of water hitting the rider and any riders behind. It means you don't have to stop and put on a raincoat if you're near your destination or if you think it's just a passing shower. Puddles, wet roads and dirt roads are suddenly so much more navigable. And if you've set your mudguards up properly, your shoes stay much drier too.
There has been a fair bit of rain in Hobart these last few days and I've noticed a lot of the riders I see on the cross-city cyclepath have been absent. I wonder how many might extend the range of weather they considered rideable if they invested in a set of mudguards.