If you ever put the car on the lift then the bottom of the lip looks scraped to all hell lol. On the car though, since my car is so low it's not really noticeable thankfully..
http://sphotos-g.ak.fbcdn.net/hphoto...59053543_o.jpg
If you look really closely on the edge of the lip you can kind of see a little bit of the sanding/fiberglass work that's been done to it, because it extends just above the edge slightly. The rest though is on the bottom of the lip so you can't see it when it's on the car. The little bumps hanging off the lip are just water droplets, just washed my car in this picture