I've found there is a limited amount of clearance (quite tight) and was curious if anyone else here had installed this item.
Plenty of folks have. I've had them on both my monsters. Yes, it's tight, but as mattc7 said, as long as the chain isn't rubbing, it's not an issue.
They are cheap insurance - I've seen photos of Duc cases where the chain has gone with and without that saver. With, it mangled the saver and gave a good scuffing to the case. Without the chain punched a hole into the case you could fit three fingers into- not pretty.