I know this stuff seems to have a bad rep for destroying headers, but I thought I would post just to get your viewpoints.
I have some Hooker long tube headers. These are 20 years or so old, but still in good shape. I sandblasted and then painted with Rustoleum high temp ceramic paint (I think its good for 2,000ºF). So if I wrap them, there ought to be good protection against rust (especially with a silicon paint on the exterior of the wrap).
It seems that all the negative comments about exhaust wrap is speculative. Does any one have actual first hand experience or pics to prove the damage?
Also I do NOT plan to get these old headers ceramic coated. It is not in the budget and not an option. Header wrap is cheaper and easily done at home.