This pic was the ride height in my 720 ALL the time. I never hit anything except really big bumps. Keep in mind it's not BD'ed, so there's frame lower than the rockers still...
I've had 6 bagged dailies over the years, and I've never had a problem big enough that left me stranded anywhere. If your setup is installed properly you shouldn't have problems with valves, or bags blowing. I have a pair of bags that's been on 3 different trucks. lol
For the people talking about shaved handles. For the back up you should have a cable release on a barrel lock hidden somewhere. So even if someone sees you, they don't have the key for it.