Aside from the obvious safety issue...............

Is there any other reason why I should keep the front sprocket cover in place. I will be ordering the aftermarket case saver and guard in the future but see little risk in running the bike in the meantime with the front sprocket cover removed. There are a couple of advantages to running with the sprocket cover removed including:
1- Easier to clean out the grime, mud, etc that accumulates around the front sprocket
2- Easier to inspect things to make sure they are in good order (sprocket nut, chain rubbing on swingarm)

What are your thoughts on this?

My bike hasn't had a front sprocket cover for 35,000 miles, give or take a few. Haven't had anything go in yet... but do make sure you get a Sandman Case Saver.

The cover also works as a case saver. Leave it on until you get a case saver.
Not a WRR but a ruined engine because of no case saver and a thrown chain.