I've thought about it too, but I'm not convinced the type 3 would make a good fenderless car, and without taking the fenders off your wheels would be sticking out side the fender like a mid 90's Honda civic with gold wires.
The best part is, its your car. You don't need permission from anybody (except your wife) to customize a vehicle. Some will like it- some will hate it, but build it for yourself, not for the masses.