No southern tradition that I know of, although it was more popular among the racing crowds of days gone by. Do a search on Google and you'll find plenty of articles with testimonials to support its worth.
http://www.thermotec.com/technology/how/how.html

As to looks, I prefer the old school look, and the more like an old flat dirt or hard track racer the better for me. I'm not into a lot of chrome...just my quirk. I thing it's become a "standard" of bikes today to be just as flashy as you can get them...but to each their own, and I'd never rag on someone's bike just because they had it chromed out.


All that is required for evil to triumph, is for good men to stand by and do nothing.