I just received mine yesterday, startled with the overall size as I've used the traditional triangular draftsman scale for the last 50+ years. This thing is larger than I expected. But...I think it's good...I'm ok with the size.
As far as the naked ends go, I also think that's fine. Once you start to introduce a chamfer on anything, you start to disturb the measuring process. If you examine draftsman scales closely, the first measuring mark is offset from the end of the scale. In other words, you will not be able to butt the rule against a surface and measure because there is an offset.
The Woodpeckers rule works well because you can butt it up against an edge and not have to factor in the offset. Besides, if Woodpeckers anodized every naked area of this rule...the price would have to be marked up accordingly. I think they've done an admiral job of arriving at a solution that works for 90% of the people.
I'm happy with mine...and will probably order the 24" version at some time.