i suppose basically there's nothing wrong with wheelskits themselves, i can't see how they might directly have a negative inpact on drag BUT.
appart from practical issues such a tire maintenance and dirt accumulation (possible corrosion! ) there's also this: for stability reasons most cars seem to have an as broad as possible wheelbase. the instalation of wheelskirts on a lot of current cars would either require the rear wheels to move inward or the skirts to buldge around it. since the desired aerodynamis shape is tapered towards the back, option one may seem the best solution. however you would take the rear wheels out of line with the front ones... i don't know how that will effect road handing, but you'd still add frontal area, since the wheels would not be inline anymore. and possible extra rolling resistance when dealing with foul weather. all these things might counter any benefit generated by skirts...
writing this i suddenly realise a few cars did employed this, even as early as the mid 50's!
the citro?n DS for example! but than again the car was revolutionarry in many aspects...even today it still has a futuristic look to it. (in the event of a flat tire the skirts could not be removed but with the aid of just a small pillar and due to the special hydrollic suspention the car was able to lift the wheel that was to be replaced of the ground and drop it out of the wheelwell... talk about advanced!)
finally there's one thing i really like about my car's design is the rear wheel whell...
the shape actually seems to be dictated more by a desire not to desturb the airflow than to echo the front wheel arch (wich is HUGE for the littel wheels but the car leans over quite a bit while conering fast so i think it needs the space sometimes) anyway it's far from a wheelskirt and the tires stand to far out to extend one further, but i thought it was worth mentioning.
afterall it's the little things that matter right? (don't look at the mudfaps
)