They should not be necessary in most tip overs or fall and slides with the good engine guards. The bars won't usually even hit.
You really have to tumble the Valkyrie to smack up the bars/levers. I did scrape up the very end of one hand grip once (replaced the Kuryakyn grip end cap only).
(or knock the mirrors off backing out my bike shed doorway.

)
Edit: I could not find 1500 Valk pics, but this F6B is pretty much the same:
