I would definitely pipe it!
For one thing, anywhere that I can imagine this scenario, it would likely be a service call and I would want to really "DO IT RIGHT", not just "by the book", but also "by the wallet"!
Don't misunderstand me; I'm not pro-gouging or anything, but sometimes you have to make it worth your while and really do a quality installation above and beyond the NEC min. requirements.
Besides, I do think that running exposed NM is a bad idea and an accident waiting to happen.
