Thanks David for the suggestions. I installed sealed light boxes on my buddies trailer a few years ago and it actually stays quite dry inside with no moisture getting in. I also coated the boxes with POR-15 inside but check on it occassionally when I pack wheel bearings or other work for him. I wasn't planning on making drain holes as my thoughts were that would also be where moisture would get in as well.
Personally, the whole idea of this trailer is "less is more". I like the clean, smooth and unobstructed lines moreso than braces and guards, guess it is the old street rodder in me or something. I have never had guards on any of my trailers for this reason and never had an issue in the 25+ years of owning/towing trailers and RV's.
I don't want to sound like a jerk, but I have found it is better to be proficient at backing up a trailer rather than worrying about fixing it after crashing into something.
Mike.