both the tank valve and gear lever are vulnerable
fwit i'd suggest the sommer's plate - or getting a similar one fabricated. it is expensive but has a dual purpose - protection and tool/water storage.
where do you keep your tools?
i drop my bike quite often (once a week/month just getting on/off) and i've never had aproblem with petrol tap or gear levers (touch wood).
Back in london (after 8 months in Africa) i took it off and dropped it outside my flat after id taken the bash plate off - result was unusuable gear lever! (luckily, i'd zip tied a spare to my racks)
[This message has been edited by Jerome (edited 03 July 2004).]