Did that going around a traffic circle (a bit faster than I probably should have) once, give me a bit of a fright, but recollected myself quickly enough that I didn't over react. lol[...Just eyeballing it, it looks like the pegs would hit first...]
I have Soupy's Adjustable Links and I don't ride with the inside edge of my boot flush with the engine case, so in a tight turn the first thing to rub is the outside of my boot. And it seems like it happens more often in slow stuff, like making a U-turn on a narrow road, than it does in the twisties at speed.
No lowering links here.