I'm assuming you are talking about the fender that extends down below the registration plate.
If so, you can clean up the looks without resorting to total elimination or extra kits. On my previous '94 (I haven't done it to my current '94 yet), I removed the light for the plate, moved the plate up until it is just below the tail plastic, and then marked and carefully trimmed away the plastic to that point.
The tail lights for these years have the provision for the plate light to shine through a lens on the bottom. In other parts of the world this lens is already clear, but in the US it is dark. By carfully cutting out this lens and then installing a clear piece of plastic (I used a good clear RTV silicone to glue it in) you get your plate light back.
The benefit of this is you get a clean look, without completely eliminating the mud flap, or needing to install a bracket kit and light. It really does look much cleaner than the kits I've seen.
You can get more information at a couple of the VFR sites:
www.cs.wisc.edu/~john/vfr/ VFRD - vfrdiscussion home
Good luck.