Steve,
For long trips they give you a different sitting position with your feet on the pegs. I also stretch my legs straight out resting my calves on the pegs. It really helps out on those 500+ mile days. For me they make a big difference. When folded up, they are out of the way and look pretty clean.

BA has Freak, 160mains, 44pilots, air mix3 1/2 to 4 turns, BUBS dresser dogs. Never had more fun on any bike - 2nd bike 2008 RIIIT