"I'm afraid of dropping my bike!" -- Protection for Cruiser

Some friends and I are participating in the "Ride Like a Pro" training in a few weeks. It's low-speed maneuverability training, similar to the MSF ERC (Experienced RiderCourse) and ARC (Advanced RiderCourse). At least one of the guys, who rides a 2007 Yamaha V-star custom 1100, is really concerned about dropping and damaging his bike.

I'm planning to go over to his place and take a look at his bike and recommend some ways to keep it from getting cosmetic damage from a low-speed drop. This is a one-day (four hour) class, so it doesn't need to be anything permanent. I'm thinking some high-density foam on the ends of the handlebars and something on the lower corners of the bags. He doesn't have engine guards or highway pegs, or I'd wrap some foam around those, too. He specifically mentioned the tank, but I would think that would be a relatively low risk when going under 15 MPH in a parking lot.

Any suggestions from those of you who might have some insight would be greatly appreciated. What would you consider the "touch points" for a cruiser in general (and his bike in particular)?

For the record, I'm pretty confident in this guy's riding abilities -- I think he lacks confidence, though, and that could be detrimental.