I asked Dave Fitzgerald about this exact topic after seeing his Yellow StarGazer IV which has fuse mounted undercarts which had NO pants attached.
Thinking there was some logical reason behind it, he said quite simply " I was lazy.. "

If we look at the Top 5 at the most recent US NATS.
Dave F - ThunderGazer - Wing mounted fairings
Paul W - Impact XS - Tri mount fairings
Brett Buck - Infinity - Wing Mount Fairing
Derek Barry - Dreadnough - Fuse mounted with Pants
Richard Oliver - Maverick - Wing mounted Fairings.
You have to move down to Bob Hunt in 6th with Wing mounted Pants.
Of course Bruce Perry's Jester had Fuse mounted pants and his was Front row..
I question that : in todays climate of high calibre Judges - if wheel pants on or off are even a consideration to high scores.
I personally prefer them - however long grass is an issue - I usually make 2 sets of undercarts - one with large wheels and plenty of clearance, and ones for tarmac.