I have not pushed it with tires over 41mm and fenders, but if I were, I would use the VO zeppelin fenders and Berthoud hardware for max clearance inside and out on the fender. it will still be tight, but get you the most space and still fit between the pivots on the Paul Racer. I shape my zeppelins at the chain stays, but that is primarily because I am really anal about the details and having the fender just clear, zero rub on frame etc.
I really wish there was a 700x55mm fender on the market. The 60mm Berthoud could be made to work if you are willing to put the time into shaping it around all the "tight" spots. it is acutely on my list of things to do someday when I have too much time.