My own two cents' worth.
The "Header wrap" issue is widely discussed in Classic car Forums, especially among those who race classic cars.
It has been generally acknowledged that header wrap will cause the headers to retain much more heat than was originally planned by the engine designers; the excess heat will then either disperse as hotter exhaus gases (hence, the exhaust system has to be redesigned) or remain within the head and, especially among 4 - 8 cylinder cars, cause head warp and exhaust valve wear and seizure.
Of course, the Savage engine is by no means to be considered a race-tuned engine, nor do we rider her in "fast lap" style... so, why worry ?
The point is that header wrap is not good for a healthy head, especially if we consider the engine is air-cooled.
So, unless somebody rides up Smoky Mountain Pass in the deep of winter, I personally see no point in wrapping the exhaust.
For those unsure, check classic bikes (especially the Brits and the Italians) you will see that the exhaust pipe clamp / flange is actually finned, to help disperse heat.
B U TIf you
MUST wrap it, read this advice I found in a HotRod website:
If you choose to wrap the header you need to prep it first. You need to paint it with HIGH degree resistent paint. After that you can wrap.
If yoursis a daily driven water will not stay trapped as it will evaporate.
Premature header welding failures are known to happen on CHROMED cheap headers replica.