The value of having a fairing or windbreak depends on how fast you travel - below 15mph the aerodynamic drag is not too significant. However getting above this speed aerodynamic drag is much more significant.
The tricky thing with having a fairing on a normal style bike is that the wind can catch it and pull you off course which can be pretty dangerous. Depends how windy it is where you live.
Other than becoming one of the dropped handlebar lycra clad brigade, the other way of beating aerodynamic drag is to have a recumbent bike, with these being lower to the ground they can have a fairing without sidewinds affecting them quite so much.
The other potential benefit of a fairing is getting extra shelter from bad weather, but I think you have to be travelling quite fast to benefit.
I have often wondered about making a fairing using a wire frame and the thin plastic sheet material you cover model aircraft wings with - you heat it with an airgun and it shrinks to make a tight covering.
Alternatively maybe you could adapt something from a motorbike like a honda c90 screen. IF you use plastic it should be polycarbonate so it is shatterproof.