There's a pic of the ST 955 R&G's on a Daytona 955 on the Jack Lilley website:
http://www.jacklilley.com/view_part.asp?category_id=12&category_type_id=134&part_id=4681
From my use of the R&G's, I'd say that on a drop or low speed fall they will stop damage to everything - as long as you don't go across a kerb. Then again, running anything across the kerb is going to cause problems.
Going down hard at at angle will bend the bolt. That's a pic of my bike Kev has posted. Even so, these bungs did stop the damage from being worse. Granted, the panels will need replacing anyway - but there is also a safety angle.
The R&G's come out quite far & were handy in keeping the bike from completely trapping my right leg during a slide. That must have contributed to the fact that I was unscathed by the slide. I'd rather that than bother about the panel too much.
Kev - on your original point about bent stems snapping the bodywork - the bend here was a bend of the bolt, not the mounting frame. So, if the mounting protrudes through the fairing for the bung to be screwed in, then I don't think you should worry too much. The bolt holding the bung will bend if it hits at an angle at a decent speed, but that shouldn't harm the fairing if the end of the mounting stem rises clear of the bodywork in the first place. I suppose I'd rather the bolt was weaker that the mounting stem, so it doesn't force the stem to bend to the same degree as well.