Something else to ponder, courtesy of Ferrari. These obviously would not work in combination of a mud flap or stone guard, but here we go:
The area behind the wheel of a 599XX Evo:
I had the fortune to view one of these 599XX Evos at the 2012 Rolex 24 at Daytona that was on display. Also on display was a 333SP which also has a front fender treatment, similar to the one shown below:
Going back to a stone guard, note the 333SP has clear plastic or curved plexi to protect the paint from rock/dirt/tire debris; this could be worth considering should one go this route.