Yes, my handguards do contact the fairing on full lock but the handguards are flexible so they a) bend to allow full contact and b) so don't damage the fairing.
You're right, though, it's an important thing to check before fitting.
im looking at the acerbis dual road bar-end handguards. i remember seeing a member here who has them. don't remember who it was. hey man if you are reading this please comment. thanks :rockon:
This may be what you're looking for. Simon was pretty comprehensive in his 3 posts about the handguards. I too toy w/the idea of getting these guards. Heated grips + handguards seem easier to me than fumbling with my heated glove liners. At any rate, here's the post.