If you do a bit of searching you'll find all kinds of different answers. I personally have never had a problem with a little rain here or there, but once got hit with a HUGE storm. I was riding in a foot of water in some spots and having some gurgling and bogging while coming to a stop. I just kept the rpm's high and kept it revving while at stop lights and she never stalled.

I have open pods with no graters, and a relocated battery with no side panels. Ive ridden for 2-3 years with the open battery and never had a problem electrically ever.